https://arab.news/wt29c
RIYADH: The third day of Biban Forum 2025 saw the signing of 11 agreements and memorandums of understanding and the launch of seven financing portfolios with a total value above SR7.6 billion ($2.03 billion).
These portfolios support entrepreneurial projects and the SME sector, according to the Saudi Press Agency.
The Small and Medium Enterprises General Authority, also known as Monsha鈥檃t, signed cooperation agreements with Tarmeez Financial Co. to allocate SR4 billion to finance entrepreneurs and SMEs, and with Al-Taysir Arabia Finance Co. for SR3 billion.
An agreement was also signed with Alfa Arabia Finance Co. for SR600 million, as part of joint financing programs aimed at enhancing growth and sustainability in the micro, small, and medium enterprises sector.
The agreements included collaboration with the Crafts Association to implement three training camps facilitating artisans' access to raw materials and skills development; with the Iktifaa Association to develop social entrepreneurship within the 鈥淢y Project 3鈥� initiative; with Gulf Saudi Co. to enable MSMEs and artisans to participate in sports and entertainment events; and with Jahez Co. within the 鈥淵our Project is Ready鈥� initiative to empower entrepreneurs to enter the world of e-commerce with training and technical support.
On the academic front, Monsha鈥檃t signed two agreements with Prince Sattam bin Abdulaziz University and the Arab Open University to raise awareness of entrepreneurship through workshops and training programs.
Monsha鈥檃t also signed an agreement with the King Salman Science Oasis to stimulate innovation and investment in technology and entrepreneurship. The forum featured several high-profile launches in the fields of entrepreneurship and innovation.
On the development finance front, the Sulaiman Abdulaziz Al Rajhi Foundation for Development Finance, in cooperation with the General Authority for Endowments, announced a financing product specifically for beneficiaries of the Jana Fund.
This product supports productive families with loans ranging from SR60,000 to SR200,000, depending on the nature and size of the projects. Additionally, the Namouthaj Association launched a technology hackathon targeting non-profit organizations.
The Saudi Finance Co. launched a tax return financing program to support MSMEs through operational financing of up to SR750,000, utilizing expedited digital procedures to alleviate financial burdens.
Furthermore, a specialized hackathon in the cultural sector was launched, aiming to empower entrepreneurs to establish their startups and adopt innovative solutions in the cultural field, as part of efforts to support the creative economy and foster entrepreneurship within the cultural sector.
These agreements reflect Monshaat's commitment to strengthening the entrepreneurship ecosystem in the Kingdom by building strategic local and international partnerships that contribute to empowering entrepreneurs, expanding growth opportunities for MSMEs, and supporting innovation and economic diversification in line with the objectives of the Kingdom's Vision 2030.