Riyadh, June 16, 2020, SPA -- The Saudi Industrial Development Fund (SIDF), the main financial enabler for the National Industrial Development and Logistics Program (NIDLP), revealed today that the number of beneficiaries of SIDF initiatives that were launched to reduce the financial and economic impacts of coronavirus (COVID-19) pandemic on the private sector reached 536 industrial facilities benefiting from a number of initiatives amounting to SR 3.7 billion. SIDF has launched a package of measures and initiatives to support the industrial sector, which includes postponing and restructuring installments of small, medium and large enterprises loans, launching a new financing product to support all manufacturers of medical supplies and medicines to purchase raw materials, as well as launching a line of credit to support operating costs of small and medium enterprises (SMEs). The fund pointed out that small projects that their installments were postponed and restructured reached 381 with a value exceeding SR 800 million, while the medium-sized projects reached 123 projects with a value exceeding 900 million riyals, and large projects reached 18 projects with a value exceeding SR 1.3 billion, in addition to 14 medical projects with a value exceeding SR 74 million. The fund added that 53 loans were granted to SMEs with a total value of SR 519 million, while the loans to support the medical supplies and medicines sector were granted to five projects with a value of SR 254 million. The credit facilities were also granted to support the operating expenses of 48 SMEs with a value of SR 265 million. SIDF confirmed that these initiatives come to support the industrial sector and to preserve the national industry from being affected by the economic effects of the coronavirus pandemic. Supporting the medical sector comes to enable it to play its role in securing medical supplies and products, the fund added. --SPA 15:42 LOCAL TIME 12:42 GMT 0011 www.spa.gov.sa/w1351120