Prince of Riyadh Patronizes Social Development Bank Celebration of 53rd Anniversary and Inaugurates “Jeddah 30” Branch.

His Royal Highness Prince Faisal bin Bandar bin Abdulaziz, the Governor of Riyadh Region, sponsored an event by the Social Development Bank to celebrate its 53rd anniversary and launch “Route 30” at the bank’s headquarters in Riyadh.

Upon arrival, His Highness was received by the Minister of Human Resources and Social Development and Chairman of the Bank’s Board of Directors, Engineer Ahmed bin Suleiman Al-Rajhi, and the Bank’s CEO, Engineer Sultan bin Abdulaziz Al-Humaidi. The Prince expressed his gratitude to the wise leadership for their support of developmental and social projects that align with the goals of Vision 2030.

He praised the bank’s achievements throughout its history in empowering citizens, enhancing social and economic development, and supporting national talents. The event included an exhibition showcasing local artists and craftsmen, highlighting the bank’s efforts to empower national talents and promote cultural and artisanal products.

The Minister of Human Resources and Social Development, Engineer Ahmed Al-Rajhi, delivered a speech thanking the Saudi Arabian leadership for their support in community development and fostering an environment for investment and entrepreneurship. He emphasized the bank’s continued support for development initiatives, financial inclusion, and social empowerment, noting the bank’s contributions of over 162 billion Saudi Riyals in financing to more than 10 million citizens since its inception.

During the event, an interactive presentation was made on the bank’s journey, followed by the inauguration of “Route 30” by Prince Faisal bin Bandar. This initiative supports entrepreneurs and small businesses, aiming to transform branches into developmental communities and business incubators, providing comprehensive financial, training, and guidance services. “Route 30” has hosted over 300 startups and benefitted more than 5800 participants in Riyadh, empowering Saudi youth and fostering a culture of entrepreneurship.

Additionally, agreements were signed to establish a financing portfolio worth 50 million Riyals to support the non-profit sector, in collaboration with the General Authority of Endowments and the Associations Support Fund. Agreements with Arab National Bank and Saudi French Bank were also signed to create financial portfolios totaling 100 million Riyals to support entrepreneurs and startups.

Furthermore, an agreement was signed with Alinma Bank to launch a freelancer card to support freelancers in accessing financial solutions and banking services. The event was attended by dignitaries, government officials, bank partners, and entrepreneurs, highlighting the bank’s commitment to societal development and economic growth.