Social Development Bank Exceeds SAR1.7 Billion in Financing in Q1 2025

The Social Development Bank (SDB) held its regular meeting for the first quarter of 2025, chaired by Minister of Human Resources and Social Development (MHRSD), Chairman of SDB’s Board of Directors Ahmed Al-Rajhi, and in the presence of the board members. The meeting reviewed SDB’s performance during the first quarter and discussed several topics that contribute to enhancing SDB’s developmental services, as per a recent SDB press release.
 During the meeting, SDB presented its efforts to empower individuals and small and emerging enterprises through sustainable financial solutions. The total financing during the first quarter exceeded SAR1.7 billion, benefiting more than 20,000 citizens and enterprises. The total financing for entrepreneurs and owners of emerging enterprises amounted to SAR505 million, benefiting more than 1,800 enterprises.
 Regarding social financing, SDB stated that the total financing during the first quarter reached SAR504 million, benefiting more than 9,800 citizens through marriage, family support, and home renovation products. The number of beneficiaries from freelance and families working in the cottage industry financing reached 8,500, with total financing exceeding SAR670 million, achieving a growth rate of 329% compared to the previous quarter of last year.
 As part of promoting a savings culture, approximately 17,000 new savers joined the “Zod Savings” program during this quarter, bringing the total number of supported savers since the program’s launch to 250,000 citizens, with total savings exceeding SAR550 million in their savings accounts. In addition, 18,000 entrepreneurs benefited from empowerment and development services, including capacity-building programs, specialized and quality training, as well as access-to-market support.
 CEO of SDB Eng. Sultan bin Abdulaziz Al-Hamidi said, "We began this year by achieving exceptional accomplishments that serve various segments of society, thanks to the support and care provided by our wise leadership to strengthen the journey of social and economic development in line with the objectives of Vision 2030. These figures reflect our commitment to supporting the national economy, enhancing the financial stability of families, and creating funding opportunities that contribute to sustainable community development."
 The release also highlighted that SDB focuses on supporting promising sectors such as e-sports, gaming, and tech entrepreneurship. The value of financing portfolios for these sectors has been increased to more than SAR1.3 billion, in conjunction with the LEAP 2025 conference held last February. This initiative supports gaming, e-sports, and IT development, under the umbrella of the National Development Fund, in collaboration with both the Saudi Esports Federation and the National Technology Development Program.