São Paulo – Saudi Arabia’s Social Development Bank (SDB) received the Platinum Award for Best Financial Institution for Women Entrepreneurs in the Middle East and North Africa region. The award was presented to the bank’s advisor, Saeed bin Saleh Al-Zahrani, at the Global SME Finance Forum 2024, held last week in São Paulo.
According to information released by the SDB, the award was organized by the SME Finance Forum in partnership with the International Finance Corporation (IFC) as a special tribute to financial institutions that contribute to the development of entrepreneurship.
In the released statement, the SDB highlights its role in empowering women by helping them achieve their professional and economic ambitions through innovative and flexible financing programs aimed at small- and medium-sized enterprises. The bank also states that the recognition reflects its commitment to supporting female entrepreneurs and providing economic opportunities as part of Vision 2030, Saudi Arabia’s national strategy to diversify its economy away from oil.
“We are honored to receive this international award, which crowns my country’s government’s efforts to empower people and support entrepreneurship, especially women, as well as promote financial inclusion” said Al-Zahrani. In the first half of this year alone, SDB provided SAR 4.6 billion (USD 1.2 billion) in financing, benefiting approximately 70,000 citizens.
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Translated by Guilherme Miranda
