CITC signed an agreement with the Social Development Bank to finance self-employed citizens by enabling them to own private vehicles to make deliveries RIYADH: Saudi Arabia is pushing to create more food delivery jobs and businesses to meet growing demand. The sector witnessed monthly average demand of SR1 billion ($266.6 million) during the first quarter of this year, representing 45 percent annual, according to SPA. The Communications and Information Technology Commission (CITC) signed a three-year joint cooperation agreement with the Social Development Bank (SDB) on Thursday to finance self-employed citizens by enabling them to own private vehicles they can use to work in delivery applications. The agreement includes training of beneficiaries, the Authority said in a statement. CITC also signed on Wednesday an agreement with the General Authority for Small and Medium Enterprises, Monshaat, to encourage entrepreneurs to invest in delivery applications. The Authority launched in June a campaign to localize delivery applications, which aims to motivate citizens to join the delivery applications market in the Kingdom. This campaign provides an opportunity for Saudi citizens to invest in the increasing demand for services and diversify sources of income. The campaign comes in cooperation between the Communications Authority with the Ministry of Communications and Information Technology, the SDB, the Human Resources Development Fund (Hadaf), the General Authority for Small and Medium Enterprises (Monsha’at), and delivery applications through electronic platforms registered with the Communications Authority. Ads by optAd360 Rana Zumai, a consultant who advises small and medium enterprises in the Kingdom, attributed the increased support of the food delivery application sector in the recent period, especially after the pandemic, due to the increase in the need for these digital service companies, whose consumers have increased. “Due to the acceleration of business and social life and the rapid response to the digital transformation, it was important to support entrepreneurship in food delivery applications and encourage investment in them,” she told Arab News. Empowering the sector includes support from funding bodies to support and develop food delivery applications, and here, the role of institutions, the Social Development Bank and others, especially in providing training workshops, consultations and guidance necessary for all stakeholders of these businesses, emerges, she said. SDB is considered the largest and most extensive funding gateway to financing emerging and small enterprises and self-employment, and since its launch 3,000 citizens have benefited from the financing of self-employment for participatory transport, with a financing value of more than SR270 million.