SIDF hikes loans by 3.1 Per Cent

Riyadh, June 21, SPA -- During the fiscal year 1428-1429 AH, loans
approved by the Saudi Industrial Development Fund (SIDF) increased by
3.1 percent compared to the loans approved in the previous year
totaling SR 8,811 million.

On the other hand, the amounts extended to the borrowers increased
by 19 percent compared to the sums of the previous year amounting to
SR 5,075 million.

The sums repaid by the borrowers in the same year amounted to SR
1,739 million which is more by 14 percent to the sums repaid in the
previous year.

In 2008, SIDF approved loans for a number of industrial projects
including 72 loans for implementing new industrial projects and 35
loans for expanding existing industrial projects.

The sums invested by the projects financed by SIDF in the same year
totaled SR 60,234 million.

Since its establishment up to last year, SIDF extended 3,020 loans
with a total value of SR 75, 617 million. These loans were used in
implementing 2, 140 industrial projects in the various parts of the
Kingdom of Saudi Arabia.


--SPA