Staff Writer

Businesses in Saudi Arabia secured SAR 505 million ($134.7 million) in financing from the Social Development Bank (SDB) during the first three months of the year.

The financing benefited more than 1,800 enterprises, including owners of “emerging” businesses, according to the SDB on Tuesday.

Overall, the SDB disbursed SAR 1.7 billion in loans to 20,000 citizens and enterprises during the quarter.

SDB extends loans to empower small and emerging enterprises, as well as enable Saudi nationals to strengthen their finances.

(Writing by Cleofe Maceda; editing by Seban Scaria seban.scaria@lseg.com)

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