Riyadh - Mubasher: The fourth day - Friday - of the "Beban 24" forum, organized by the General Authority for Small and Medium Enterprises (Monsha'at), witnessed the signing of 16 cooperation agreements and the launch of projects and initiatives with a total value of nearly SAR 10.7 billion, in a move aimed at supporting entrepreneurship and enhancing the growth of small and medium enterprises in the Kingdom, in line with the Kingdom's Vision 2030.

Monshaat and Taameed Platform signed a cooperation agreement to provide financing products at reduced prices. Monshaat also concluded several agreements to finance entrepreneurs by allocating huge financial portfolios, including a portfolio worth 3.1 billion riyals in cooperation with Al-Tayseer Arab Company, a portfolio worth 2 billion riyals with Lendo Company, and another portfolio worth 1 billion riyals with Tarmeez Financial Company, in order to support small and medium enterprises and facilitate their access to the financial resources necessary for growth, according to the Saudi Press Agency (SPA).

Among other agreements, Monshaat cooperated with Alfa Arabia to allocate a portfolio worth 200 million riyals, and an agreement with Osool Al-Hadithah Company for a financing portfolio worth 69 million riyals. The agreements also included allocating a financing portfolio worth 1 billion riyals with Funding Souq Company, 800 million riyals with Mekyal Financial Company, 600 million riyals with Emkan Arabia Company, and a financing portfolio worth 1.9 billion riyals in cooperation with Marabaha Flexible Company, with the aim of supporting entrepreneurs across the Kingdom.

The fourth day witnessed the signing of an agreement between the Vision Entrepreneurship Association and the Business Development Mine, and another between the Association and the House of Establishments, in addition to signing another agreement with Blossom Company, with the aim of empowering the entrepreneurship system by providing supportive programs for entrepreneurs. The National Commercial Bank of Saudi Arabia also announced the launch of 15 new branches of the bank specialized in supporting small and medium enterprises, while the Arab Bank launched the “anb” digital platform that enables small and medium enterprises to submit financing requests, obtain initial approvals, and sign contracts electronically, which facilitates access to financing services quickly and effectively without the need to visit branches.

Al-Ahsa Chamber announced the launch of the “Al-Ahsa Angel Investors Network” initiative, which aims to provide investment solutions for emerging companies by connecting them to a network of investors in order to support and establish businesses.