Saudi to raise SME lending to 5% by 2020: Finance Min

28/01/2018 Argaam

 

Saudi Arabia seeks to increase bank credit for small and medium sized enterprises (SMEs) from 2 to 5 percent by 2020, finance minister Mohammed Al-Jadaan told Saudi Press Agency at the World Economic Forum in Davos.

 

He said the increase aims to open up new opportunities for the essential sector and help revive the economy at large.

 

The finance minister said investors showed positive sentiment in past weeks pumping large money into the stock market, as they realized the positive impact of the anti-corruption effort.

 

He said allowing women to drive cars in the kingdom will have a positive implication for local credit market.

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