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Saudi’s Asir to become center for investment in emerging projects

Saudi’s Asir to become center for investment in emerging projects

His Royal Highness Prince Turki bin Talal bin Abdulaziz, Governor of Asir Region and Chairman of the Region Development Authority witnessed the launch of five initiatives to support small and emerging projects in the areas of investment in Balqarn Governorate.

His Highness was briefed on a number of the Social Development Bank’s products, briefing on the Bank’s projects that support the pioneers, entrepreneurs, and youth of the province, and the products provided to the beneficiaries, during his sponsorship of the Social Development Forum, which was held at the theater of the College of Sciences and Arts for Girls in the province.

The initiatives launched by the Social Development Bank in Balqarn Governorate included five initiatives: “Allocating an amount of SAR 60 million to support small and emerging projects”.

It targets areas of investment in Belqarn Governorate to achieve the Kingdom’s vision 2030, to establish (tourist resorts – commercial centers – hospitalization – restaurants – Camping places and carts – farmers markets and recreational centers).

The second initiative is “Qualifying and training entrepreneurs to manage small and emerging projects”. It includes spreading the culture of self-employment, the “Tell me the market” program, and the road to success program.

The third initiative “Rehabilitation and Empowerment of Societies to Manage Credit Portfolios”, included two agreements, the first for a loan portfolio of 2 million riyals with the Charitable Society in Al-Bashaer, and the second for a loan portfolio with the Association of Al-Birr and Social Services in Afra, with a value of SAR 2 million.

The target in the governorate” is to enable artisans to train and transfer knowledge, and it targets artisan training in the Sadu industry and the crochet industry. It also witnessed the signing of an agreement with The Salem Bin Mahfouz Association, to empower families in addition to craft and vocational training, which will be implemented in the second quarter of 2022.

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