SDB's Empowerment of Women Entrepreneurs Garners Recognition

The Social Development Bank (SDB) was praised for its remarkable dedication to supporting women entrepreneurs and fulfilling the Sustainable Development Goals during an event held on September 13 in India.

The coveted award designates SDB as the "best financier for women entrepreneurs," underscoring the bank's significant efforts to promote gender equality in the business scene.

The goals of SDB go beyond traditional banking. It not only promotes female entrepreneurs but also gives tiny and microbusinesses essential financial support.

The bank also provides cutting-edge financial products designed to satisfy the various requirements of emerging firms, including financing for both operational costs and assets.

SDB provided SAR 6.4 billion in financial assistance to more than 150,000 entities throughout the Kingdom during the first half of 2023, including small enterprises, women entrepreneurs, and independent contractors.

Notably, more than SAR 3 billion of this funding—which shows SDB's dedication to supporting the expansion of these businesses—went to small and developing businesses.

In order to promote gender equality and sustainable development, SDB has set aside SAR 35 billion for financial goods throughout the three-year period beginning in 2023.

Of this investment, a sizeable SAR 24 billion has been set up for financing entrepreneurs, small and growing businesses, and independent contractors.

This strategic move demonstrates SDB's continuous commitment to promoting empowerment and economic growth within the entrepreneurial ecosystem.