Saudi Industrial Development Fund Participates in Inlet Europe 2021 Forum in Italy

Saudi Industrial Development Fund Participates in Inlet Europe 2021 Forum in Italy
SIDF's SR3.7bn initiatives to support industrial enterprises

Saudi Industrial Development Fund (SIDF), under the umbrella of "Invest in Saudi Arabia", has participated in the "Inlet Europe 2021" forum and summit, which was held from November 30 to December 2, 2021 in Milan, Italy, with the participation of the Ministry of Investment of Saudi Arabia (MISA), the Saudi Authority for Industrial Cities and Technology Zones (MODON), and Saudi Aramco, as well as NEOM Company, and the Saudi Electricity Company (SEC).

During its participation, the Industrial Fund highlighted its role as a major financial factor of the energy sector, and definition of the Kingdom's advantages, represented in being a center for the development and manufacture of many energy products and equipment for its strategic geographical location, and a large regional market in the gulf region, the Arab world and North Africa, as well as the fund defined its role in achieving national ambitions for the production of renewable energy, and enabling the manufacture of renewable energy components to meet local demand.

The Fund provides, through the "Mutajadeda" program, financial and advisory support for the development of local developers in the field of independent renewable energy production, raising the quality of specialized products in solar and wind energy, and aligning them with local and global demand through three financing tracks: financing the manufacture of renewable energy components, and financing renewable energy production projects, as well as financing of distributed solar energy generation projects.

The Inlet Europe 2021 Summit is a global platform for cooperation and innovation, and a platform for discussing energy issues and challenges in Europe and the world.

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