The Social Development Bank announced the signing of 51 strategic agreements during the Entrepreneurship and Modern Business Practices Forum (DeveGo25), aimed at establishing financing portfolios and strengthening both local and international cooperation. This milestone reflects the bank’s growing role in building a comprehensive and integrated entrepreneurial ecosystem across the Kingdom.
Through these partnerships, the bank seeks to expand its developmental impact by offering a wide range of financial and non-financial solutions tailored to entrepreneurs, startups, micro-enterprises, freelancers, and families engaged in cottage industries, in alignment with the objectives of Saudi Vision 2030.
On the international front, the bank reinforced its global engagement by joining leading entrepreneurship networks through agreements with prominent international organizations.
These included Alibaba, as part of a Saudi–Chinese initiative to support enterprises and cottage industry families; Incofin, to collaborate on financing programs and exchange expertise in investments, joint funds, sustainable finance, and credit guarantees; and Riversands I-Hub, to promote knowledge sharing in investment programs, non-financial services for entrepreneurs and small and medium-sized enterprises, as well as co-working spaces.
Additionally, the bank concluded several cooperation agreements focused on empowering entrepreneurs, small businesses, and self-employed individuals. The agreements also extended to strategic partnerships with government entities and national institutions, supporting a wide range of developmental goals and further strengthening the Kingdom’s entrepreneurial and financing ecosystem.
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