Saudi Industrial Development Fund

The Saudi Industrial Development Fund (SIDF)
Native name
صندوق التنمية الصناعية السعودي
Founded1974
Headquarters
Riyadh
,
Saudi Arabia
Key people
Ibrahim Almoajil, (Director General)
Websitewww.sidf.gov.sa/en/

The Saudi Industrial Development Fund (SIDF) is a financial wing of the Saudi Arabian government established in 1974.[1] The SIDF was established to provide mid-term and long-term loans to the private industrial sector.[2] Its Chief Executive Officer is Dr. Ibrahim Almojel.[3] In 2018, the fund had appropriations of more than US$2.4 billion, which has led to the establishment of 108 industrial projects.[4] SIDF previously financed only local manufacturing businesses, but in 2019 SIDF started to finance energy, logistics and mining projects in Saudi Arabia.[5]

SIDF and Vision 2030

SIDF exerts all efforts to maintain its pioneering role in the development of the local industrial sector and keep abreast with the latest developments. Saudi Vision 2030, It attains this goal by pushing for integration with government entities,[6] and expands the reach of its support to cover a number of promising sectors in the areas of industry, energy, mining, and logistics.[6]

References

  1. ^ "Historical Review".[dead link‍]
  2. ^ "Saudi Industrial Development Fund (SIDF), Saudi Arabia - Company Information, Key People, Latest News and Contact Details - ZAWYA KSA Edition". www.zawya.com. Retrieved 2019-07-10.[dead link‍]
  3. ^ "Ibrahim AlMojel".
  4. ^ "Who's Who: Ibrahim Almojel, director general of the Saudi Industrial Development Fund". Arab News. 2019-03-29. Retrieved 2019-07-10.
  5. ^ "Saudi Arabia to expand reach of $28 billion industrial fund". The National. 12 July 2019. Retrieved 2019-07-24.
  6. ^ a b "SIDF to Start New Phase to Support Economic Sectors". Asharq AL-awsat. Retrieved 2019-07-10.


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