By SPA
Riyadh : The financing institutions in the Kingdom of Saudi Arabia extended up to the end of the fiscal year 1426-1427 AH, more than SR 334 billion to the citizens.
These loans have been positively contributing to the swift development witnessed by the Kingdom in the agricultural, industrial and construction domains.
The Saudi Government has set several programs to enable the citizens contribute to the process of comprehensive development in the country.
On 17/7/1427 AH, the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz ordered to extend support amounting to SR 25 billion from the surplus of the revenues of the fiscal year 1425-1426 to some of the development funds.
In line with the Monarch’s order, the capital of the Real Estate Fund was increased by SR 9 billion to reach SR 92 billion; the capital of the Saudi Credit Bank by SR 3 billion to SR 6 billion; the capital of the Industrial Development Fund by SR 13 billion to SR 20 billion.
Moreover, the General Investment Fund was supported by SR 20 billion at the budget of the fiscal year 1427-1428 AH.