Saudi Arabia Unveils $13.3B Package for Private Sector

(Bloomberg) -- Saudi Arabia’s central bank unveiled a 50-billion riyal ($13.3 billion) package to support private businesses as the economy grapples with the impact of coronavirus.

• The package includes making 30 billion riyals available to banks and financing companies in return for deferring small and medium-size businesses’ loans.
• The package will also bring 13.2 billion in loans to SMEs provided through banks. The businesses will be also supported through a 6-billion riyal loan guarantee program.

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