Biban 2025: More Than $2bn Pledged to Support SMEs on Day 3
The third day of Biban Forum 2025 saw multiple agreements and memorandums of understanding signed, alongside the launch of several financing portfolios totaling over SR7.6 billion ($2.03 billion). These initiatives aim to support entrepreneurial projects and bolster the small and medium enterprises (SME) sector in Saudi Arabia.
RIYADH: The third day of Biban Forum 2025 saw the signing of 11 agreements and memorandums of understanding, along with the launch of seven financing portfolios valued at over SR7.6 billion ($2.03 billion), according to the Saudi Press Agency.
These initiatives are focused on supporting entrepreneurial projects and enhancing the SME sector in Saudi Arabia.The Small and Medium Enterprises General Authority, known as Monsha’at, played a significant role by signing several agreements.
Notably, it collaborated with Tarmeez Financial Co. to allocate SR4 billion for financing entrepreneurs and SMEs, and partnered with Al-Taysir Arabia Finance Co. for an allocation of SR3 billion.Monsha’at also signed an agreement worth SR600 million with Alfa Arabia Finance Co., as part of joint financing programs aimed at boosting growth and sustainability in the micro, small, and medium enterprises sector.Furthermore, Monsha’at engaged in collaborative efforts with various organizations and associations.
This includes partnering with the Crafts Association to implement three training camps that would provide artisans with access to raw materials and skill development opportunities.
An agreement was also reached with the Iktifaa Association to promote social entrepreneurship within the “My Project 3” initiative.Other notable collaborations include working with Gulf Saudi Co. to facilitate MSMEs’ and artisans’ participation in sports and entertainment events, as well as cooperating with Jahez Co. under the “Your Project is Ready” initiative to empower entrepreneurs in e-commerce through training and technical support.In the realm of education and awareness, Monsha’at signed agreements with Prince Sattam bin Abdulaziz University and the Arab Open University to organize workshops and training programs aimed at raising awareness about entrepreneurship.The Sulaiman Abdulaziz Al Rajhi Foundation for Development Finance, in partnership with the General Authority for Endowments, announced a financing product specifically tailored for beneficiaries of the Jana Fund.
This initiative offers loans ranging from SR60,000 to SR200,000 to support productive families in implementing their projects.Additionally, the Namouthaj Association launched a technology hackathon targeting non-profit organizations.
The Saudi Finance Co. introduced a tax return financing program to provide MSMEs with operational funding of up to SR750,000 through streamlined digital procedures aimed at alleviating financial pressures.A specialized hackathon in the cultural sector was also initiated, with the aim of empowering entrepreneurs to establish their startups and adopt innovative solutions within the cultural field.
This initiative aligns with efforts to bolster the creative economy and promote entrepreneurship within Saudi Arabia’s cultural sector.These collaborative agreements reflect Monshaat's dedication to strengthening the entrepreneurship ecosystem in the Kingdom by forging strategic partnerships locally and internationally.
The ultimate goal is to empower entrepreneurs, expand growth opportunities for MSMEs, and support innovation and economic diversification in line with Saudi Vision 2030.
These initiatives are focused on supporting entrepreneurial projects and enhancing the SME sector in Saudi Arabia.The Small and Medium Enterprises General Authority, known as Monsha’at, played a significant role by signing several agreements.
Notably, it collaborated with Tarmeez Financial Co. to allocate SR4 billion for financing entrepreneurs and SMEs, and partnered with Al-Taysir Arabia Finance Co. for an allocation of SR3 billion.Monsha’at also signed an agreement worth SR600 million with Alfa Arabia Finance Co., as part of joint financing programs aimed at boosting growth and sustainability in the micro, small, and medium enterprises sector.Furthermore, Monsha’at engaged in collaborative efforts with various organizations and associations.
This includes partnering with the Crafts Association to implement three training camps that would provide artisans with access to raw materials and skill development opportunities.
An agreement was also reached with the Iktifaa Association to promote social entrepreneurship within the “My Project 3” initiative.Other notable collaborations include working with Gulf Saudi Co. to facilitate MSMEs’ and artisans’ participation in sports and entertainment events, as well as cooperating with Jahez Co. under the “Your Project is Ready” initiative to empower entrepreneurs in e-commerce through training and technical support.In the realm of education and awareness, Monsha’at signed agreements with Prince Sattam bin Abdulaziz University and the Arab Open University to organize workshops and training programs aimed at raising awareness about entrepreneurship.The Sulaiman Abdulaziz Al Rajhi Foundation for Development Finance, in partnership with the General Authority for Endowments, announced a financing product specifically tailored for beneficiaries of the Jana Fund.
This initiative offers loans ranging from SR60,000 to SR200,000 to support productive families in implementing their projects.Additionally, the Namouthaj Association launched a technology hackathon targeting non-profit organizations.
The Saudi Finance Co. introduced a tax return financing program to provide MSMEs with operational funding of up to SR750,000 through streamlined digital procedures aimed at alleviating financial pressures.A specialized hackathon in the cultural sector was also initiated, with the aim of empowering entrepreneurs to establish their startups and adopt innovative solutions within the cultural field.
This initiative aligns with efforts to bolster the creative economy and promote entrepreneurship within Saudi Arabia’s cultural sector.These collaborative agreements reflect Monshaat's dedication to strengthening the entrepreneurship ecosystem in the Kingdom by forging strategic partnerships locally and internationally.
The ultimate goal is to empower entrepreneurs, expand growth opportunities for MSMEs, and support innovation and economic diversification in line with Saudi Vision 2030.
