Prime Highlights:
- The Social Development Bank (SDB) signed 11 cooperation agreements at DeveGo 2025 to support entrepreneurs, start-ups, and freelancers across key sectors.
- Partnerships include collaborations with UNCTAD, Arab National Bank, STC Bank, and leading organizations in energy, healthcare, education, and heritage.
Key Facts:
- The number of businesses in Saudi Arabia has grown from 430,000 in 2016 to about 1.7 million in 2025, reflecting rapid entrepreneurial growth.
- SDB has provided over SR46 billion in financing to more than 600,000 entrepreneurs, with 59% of beneficiaries being Saudi women.
Background:
The Social Development Bank (SDB) signed 11 agreements at DeveGo 2025. The deals cover finance, education, energy, healthcare, heritage, and freelance work, and include partnerships with government agencies and major organizations.
The agreements support SDB’s goal to provide financial and non-financial help to entrepreneurs, start-ups, and small businesses, helping them grow in key sectors.
SDB CEO Sultan bin Abdulaziz Al-Hamidi described the forum as a national platform that brings together local and international experts to discuss the latest developments in entrepreneurship. “The number of enterprises has grown from 430,000 in 2016 to around 1.7 million this year,” he said.
Since its establishment, SDB has provided total financing of SR166 billion ($44.27 billion), including more than SR46 billion to support over 600,000 entrepreneurs, 59 percent of whom are Saudi women. According to Al-Hamidi, these figures demonstrate the bank’s significant impact in empowering human capital, fostering innovation, and promoting a knowledge-based, diversified economy.
SDB joined UNCTAD to help entrepreneurs through the Empretec program and support global development goals until 2030.
DeveGo 2025 has talks and panels on entrepreneurship, technology, and new ways of working, bringing together experts and leaders from Saudi Arabia and beyond.
The three-day forum shows Saudi Arabia’s growing role as a regional hub for entrepreneurship, innovation, and economic growth.
