In 2022, the Saudi Industrial Development Fund (SIDF) remained at the forefront of driving growth and enhancing the efficiency of the industrial, logistics, energy, and mining sectors. During the fiscal year, SIDF approved loans amounting to SAR 14.2 billion, marking a notable 28% increase compared to the previous year, to support both new projects and expansions. The outstanding performance of SIDF’s lending activities continued, with a total of 111 loans granted, representing a substantial investment value of SAR 46.2 billion. Notably, SAR 6.4 billion was successfully repaid, while SAR 6.3 billion was disbursed. Of the approved loans, 78% were allocated to small and medium-sized projects, consisting of 87 loans worth SAR 1.1 billion. Furthermore, SAR 11.3 billion was specifically allocated to promising regions and cities, supported by 40 loans.

In 2022, the primary goals of SIDF revolved around specific strategic objectives. These objectives included boosting the economic influence of the projects funded by SIDF, stimulating investments in national priorities, ensuring financial stability, and striving for excellence in customer service while enhancing the work environment.

For three years in a row, SIDF has received prestigious recognition as the top public sector organization in the Kingdom for its exceptional work environment. This achievement is attributed to its advanced system that fosters the development of its staff, leading to a workplace environment quality indicator of 82%. Additionally, SIDF’s successful journey in digital transformation played a significant role in earning the prestigious King Abdulaziz Quality Award, specifically at the Gold Level. This award recognized SIDF’s continuous efforts and valuable contributions since its inception.

The SIDF Academy has played a significant role in effectively training and nurturing local talents. It has successfully offered 37 academic programs through partnerships with 16 renowned training and educational institutions. These programs have benefitted a total of 8,188 trainees from more than 300 public and private sector organizations, including 7 programs specifically designed for “Nokhab” trainees. Furthermore, around 20 seminars covering a wide range of financial, industrial, and economic topics have been conducted.

In conclusion, the remarkable progress and accomplishments of SIDF would not have been possible without the invaluable support of our wise leaders. I would like to express my sincere gratitude and appreciation to King Salman bin Abdulaziz, the Custodian of the Two Holy Mosques, and Crown Prince Mohammed bin Salman - may they be protected by God. Their unwavering support has been instrumental in realizing the objectives of Vision 2030 and elevating our beloved country among the leading industrial nations. I would also like to extend my thanks to the Chairman, members of the Board of Directors, and my esteemed colleagues at the Saudi Industrial Development Fund for their dedicated and tireless efforts in this regard.