(FAQs): for Saudi Industrial Development Fund Initiatives
Q1: What are SIDF’s key initiatives and products deployed in support of industries during Covid-19 pandemic?
A1: SIDF’s key initiatives include the restructuring of loan installments that fall due in 2020 for clients in the following segments:
- Small and medical enterprises
- Medium enterprises
- Supporting operating expenses (for up to 3 months) of small and medium enterprises (SMEs) that are clients of SIDF.
- Supporting raw material cost for medical and pharmaceutical enterprises (for up to 6 months).
Q2: Do I need to file a request to avail the loan installment restructuring support?
A2: No. Loan installments that fall due in 2020 will be restructured automatically.
Q3: What’s the goal behind supporting the operating expenses of small and medium enterprises (SMEs)?
A3: Our goal is helping these companies navigate through the Covid-19 time with minimum financial burdens.
Q4: Is the raw material cost support limited to SIDF’s incumbent clients only?
A4: No. Any company operating in this sector can apply for support, regardless of the existence of a past relationship with SIDF.
Q5: How can medical and pharmaceutical companies apply for raw materials financing support?
A5: Applications are accepted on SIDF’s website: www.sidf.gov.sa