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“Kafalah”increases the percentage of financing women’s projects to 124%

“Kafala” increases the percentage of financing women’s projects to 124%

“Kafalah” financial guarantees program has shown that the Kingdom’s share of funding for women’s initiatives has grown this year.

In the first half of this year, it revealed that it contributed to the financing of some 456 women’s-owned facilities, valued at 432 million riyals, with benefits that rose by 124% in comparison with that of the previous year.

It confirmed that about 5 economic sectors for businesswomen have benefited from the financing, on top of which came the following sectors:

  • Wholesale trade with 215 establishments with a value of 160 million riyals.
  • 64 establishments with accommodation and food services at a value of 30 million riyals.
  • The manufacturing sector, with 38 facilities, is worth 56 million riyals.
  • The construction sector, with 32 facilities, came with a value of 50 million riyals.
  • The last sector is administrative services activities, with about 22 establishments and the value of guarantees of 31 million riyals.

As for the cities that benefited from the sponsorship program to support projects, the following cities included:

  • Riyadh topped the list of regions; where it received program support in 151 facilities.
  • Makkah Al-Mukarramah with 115 facilities.
  • Eastern Province ranked third with 102 establishments.

Kafalah said that the high rate of funding for businesswomen is the result of working with many government agencies, including the General Authority for Small and Medium Enterprises.

it referred to the initiatives of the Saudi Central Bank, as well as the National Development Fund, which was launched during the Corona pandemic crisis.

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