Social Development Bank launches SAR 10 million social investment fund

The Social Development Bank and Namaa for Social Investment have signed a cooperation agreement to launch a SAR 10 million financing fund aimed at supporting and empowering entrepreneurs and emerging enterprises in the field of social investment. The initiative aligns with the goals of Saudi Vision 2030 to build a vibrant and sustainable economy.

Under the agreement, the Social Development Bank will manage and operate the fund, directing its allocations to support entrepreneurs in sectors such as human health, environmental responsibility, and social impact. The move seeks to stimulate innovative ideas and strengthen the role of small and emerging enterprises in boosting GDP and creating sustainable job opportunities.

Strengthening partnership and supporting innovation

Sultan bin Abdulaziz Al-Humaidi, CEO of the Social Development Bank, stated that this collaboration extends the bank’s efforts to expand strategic partnerships and direct development financing toward sectors with sustainable social impact. He added that the fund will provide an enabling environment for entrepreneurs and startups in environmental and social fields, supporting their growth, sustainability, and contribution to the national economy.

Abdullah bin Mohammed Al-Mutawa, Chairman of Namaa for Social Investment, noted that the partnership continues the company’s mission to empower innovative solutions and financing for social entities, and to establish social investment as a key pillar supporting comprehensive economic and social development in the Kingdom.

Plan to establish a billion-riyal social responsibility fund

This cooperation is part of the Social Development Bank’s plan to establish a billion-riyal social responsibility fund, aiming to enhance economic opportunities and expand the contribution of the nonprofit and private sectors to national economic growth.