Riyadh – Sharikat Mubasher: Saudi Arabia’s financing sector has undergone a significant transformation since the launch of Saudi Vision 2030, according to Ibrahim bin Hamad AlRashid, Chief Executive Officer of the Small and Medium Enterprises Bank “SME Bank”.

Speaking during the opening session of the Funding Week, organized by Monsha’at, AlRashid said the shift is reflected in the development of financial tools and policies, enabling the Kingdom to meet its SME financing targets in 2025.

He noted that total cumulative credit facilities extended to micro, small, and medium enterprises reached approximately SAR 467 billion by the end of 2025, marking a 33% annual growth. This momentum is expected to continue over the next five years, supported by diversified financing solutions, including non-direct lending, guarantees, and venture debt.

AlRashid also highlighted the role of the Kafalah program, which has helped 46 companies transition to the parallel market “Nomu” and supported over 27,000 enterprises since its launch, with total financing exceeding SAR 135 billion.

Funding Week, running from 3 to 7 May across Riyadh, Jeddah, and Madinah, aims to connect SMEs with funding entities, raise awareness of financing options, and strengthen their contribution to Saudi Arabia’s economic growth.