Social Development Bank Signs 51 Agreements at DeveGO25 Forum

The Social Development Bank (SDB) announced the signing of 51 agreements covering the establishment of financing portfolios, as well as local and international cooperation partnerships on the sidelines of the "Entrepreneurship and Modern Business Practices Forum, ‘DeveGO25’. This milestone reinforces the Bank’s growing role in building an integrated entrepreneurial ecosystem and expanding its developmental impact through financial and non-financial solutions tailored to the needs of entrepreneurs, startups, micro and small enterprises, freelancers, and productive families, in line with the economic transformation of the Kingdom of Saudi Arabia under Saudi Vision 2030.

The announcement was made during the activities of the second edition of the forum, which witnessed the signing of a package of specialized financing portfolios. Most notably, this included a joint financing portfolio with Arab National Bank valued at SAR 100 million to support entrepreneurs’ projects, alongside a financing portfolio with the Council of Foundations valued at SAR 50 million to enhance the sustainability of non-profit organizations.

SDB also signed a number of corporate social responsibility (CSR) financing portfolios with Al-Ghuwairi Charity Foundation to support community initiatives, as well as with ACWA Power to support entrepreneurs and innovators in the energy sector, in addition to Fakeeh Care Group to support startups in the healthcare sector.

Furthermore, financing portfolios were signed to support freelancers and entrepreneurs in partnership with Naylah Finance, Al Yusr Leasing & Financing, Al Jabr Financing, and J-B Financial Solutions. These financing portfolios reflect the Bank’s accelerating direction toward diversifying support solutions and developing innovative financing channels capable of accommodating the needs of entrepreneurial segments across all regions of the Kingdom of Saudi Arabia.

As part of its international partnerships, the Bank strengthened its presence within global entrepreneurial networks through the signing of agreements with leading international entities. These included Alibaba, as a Saudi–Chinese initiative aimed at supporting the international market access of Saudi start-ups and productive families through specialized training, and capacity-building programs, as well as linking them with potential clients and partners in China. In addition, SDB partnered with Incofin to cooperate on financing programs for small and emerging enterprises, while exchanging expertise in the areas of investments, joint funds, sustainable finance, and financing guarantees. Furthermore, a partnership with Riversands to exchange knowledge and expertise in investment programs and non-financial services dedicated to entrepreneurs, small enterprises, and co-working spaces. 

In support of entrepreneurs and small enterprises, the Bank signed cooperation agreements with the Royal Commission for Jubail and Yanbu, Qassim Chamber, Al-Qurayyat Chamber, and Riyadh Chamber, aimed at financing startups and small enterprises, enhancing beneficiary capabilities through training and capacity-building programs, and creating more than 500 sustainable jobs for citizens. These efforts contribute to strengthening the role of such enterprises in the national economy. In addition, a tripartite agreement was signed with the Sports Investment Forum and the Council of Saudi Chambers to support enterprises and strengthen the investment ecosystem in the sports sector.

In the area of supporting productive families and freelancers, SDB signed a series of agreements with a range of entities, including the King Salman Charity Housing Association, the Heritage Commission, the Hail Region Development Authority, the Saudi Geological Survey, and Last Mile Information Technology (Thrive), to implement programs and initiatives aimed at supporting productive families and encouraging self-employment.

The agreements also included innovative partnerships with digital platforms such as The Chefs, Cloud Chefs, and “HungerStation”, through the “Cloud Kitchen”, which provides innovative digital sales channels that contribute to strengthening freelance work and the local economy. In addition, SDB cooperated with Hala Payments and STC Bank to launch innovative financing cards dedicated to freelancers. 

As part of efforts to enhance market access, the Bank signed eight agreements with the Ministry of Islamic Affairs, Riyadh Municipality, King Salman Social Center, Zain Telecom, the Small and Medium Enterprises Bank, Ministry of Interior Clubs, Saudi Railways Company (SAR), and NADEC, aimed at establishing permanent sales outlets within the premises of these entities. This initiative contributes to creating sustainable marketing channels that enhance the ability of productive families to increase their income and transition their projects into more structured and resilient business models.

The agreements also included strategic partnerships with government entities and national institutions serving diverse objectives. These encompassed cooperation with the Authority for the Care of Persons with Disabilities to empower beneficiaries through the “Kanaf” financing product and specialized training programs; collaboration with the Ministry of Municipalities and Housing (Developmental Housing Agency) to enable non-profit organizations to manage productive families’ portfolios; and partnerships with Albilad Bank and NEO Digital Banking to promote a culture of savings.

The forum also witnessed a significant expansion of the “Education Product”, through the signing of agreements with national universities and institutes to enable students to continue their education through accessible financing solutions. These agreements included Northern Border University, Effat University, King Abdulaziz University, Qassim University, Imam Muhammad ibn Saud Islamic University, the Institute of Public Administration, the University of Business and Technology, the Arab Open University, Resal Company, Saa’i Endowment Foundation, and Gulf Training Company.

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