The Small and Medium Enterprises General Authority (Monshaat) and the Business Support Fund (BSF) have signed a cooperation agreement to allocate a 700 million SAR financing portfolio to support entrepreneurs and small and medium-sized enterprises (SMEs) in the Kingdom.

The agreement was signed during the Biban24 Forum, which is organized by Monshaat under the theme "A Global Destination for Opportunities," taking place from November 5 to 9 at the Riyadh Front Exhibition and Conference Center.

The signing was conducted by Abdulaziz Al-Jifali, General Manager of Financing at Monshaat, and Majid Al-Sadhan, CEO of Corporate and Institutional Banking at BSF.

The goal of this agreement is to enhance the entrepreneurial ecosystem and strengthen the role of SMEs in the national economy by providing tailored financing solutions that meet the specific needs of entrepreneurs.

This collaboration offers financing programs that include discounts and special offers, making it easier for entrepreneurs to access funding in accordance with the regulations and guidelines in the Kingdom. The partnership also supports financial innovation and sustainability, aiming to increase the contribution of SMEs to economic development.

The Biban24 Forum serves as a strategic platform for entrepreneurs to explore new opportunities and strengthen the sustainability of their businesses through new initiatives and partnerships. This opens up prospects for future collaboration between entrepreneurs in the Kingdom, as well as regionally and globally.