ADVERTISEMENT
Saudi Arabia Unveils $13.3B Package for Private Sector
Saudi Arabia Unveils $13.3B Riyal Package for Private Sector
15 Mar 2020, 01:18 AM IST
(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.
(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.
To contact the reporter on this story: Mahmoud Habboush in Abu Dhabi at mhabboush@bloomberg.net
To contact the editors responsible for this story: Nayla Razzouk at nrazzouk2@bloomberg.net, Lin Noueihed
©2020 Bloomberg L.P.
Get live Stock market updates, Business news, Today’s latest news, Trending stories, and Videos on NDTV Profit.
ADVERTISEMENT