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Credit facilities extended to micro, small, and medium enterprises (MSMEs) rose by 20% year-on-year (YoY) to almost SAR 275.7 billion by the end of 2023, data from the Saudi Central Bank (SAMA) showed.
The following table shows developments in credit facilities provided to MSMEs by banks and financing companies:
Credit Facilities to MSMEs Since 2018 (SAR bln)
Period
Value (SAR bln)
Change
2018
108.52
—
2019
117.35
+8%
2020
182.24
+55%
2021
203.23
+12%
2022
229.03
+13%
2023
275.66
+20%
The financing offered by the banking sector reached SAR 258.3 billion…
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