Eng. Ahmed Al-Rajhih, the Saudi Minister of Human Resources and Social Development and the Chairman of the Social Development Bank (SDB), has signed multiple development agreements during his visit to Qassim Region.
The four development agreements were signed with the Municipality of the Region, the Qassim Chamber of Commerce, the Al-Rass Chamber, and Sulaiman Al-Rajhi University. The partnerships aim to support development projects in line with the bank’s vision to promote sustainable economic and social development in the region.
The development agreements with the municipality and Qassim Chamber focus on supporting and empowering licensed freelancers by facilitating access to necessary financing to sustain and grow their activities. The agreements with the Al-Rass Chamber and Sulaiman Al-Rajhi University are designed to support entrepreneurs and small enterprises through comprehensive training and financing programs.
The visit included several field visits and meetings aimed at strengthening cooperation with local development entities and reviewing the SDB’s developmental initiatives. It featured an open forum with male and female entrepreneurs and beneficiaries to discuss ways to enhance the entrepreneurial ecosystem and empower business owners, reinforcing the bank’s role in stimulating the local economy and nurturing national talent.
SDB continues to play a pivotal role in development efforts across Qassim through both its financial products and non-financial services, including training and advisory programs for entrepreneurs and business owners. Since its establishment, the bank has provided cumulative financing exceeding SAR 8 billion ($2 billion) in the region, benefiting more than 178,000 individuals through social financing, self-employment support, and small enterprise funding.
The bank also backs civil-society organizations and community projects, underscoring its commitment to advancing entrepreneurship and supporting the sustainability of small and emerging businesses in line with the Kingdom’s sustainable development goals.
