Riyadh: The Social Development Bank (SDB) has been honored with the prestigious Platinum Award as the Best Financing Institution for Women Entrepreneurs in the Middle East and North Africa (MENA) region during the World SME Finance Forum 2024. The forum, held in São Paulo, Brazil, from September 16 to 18, ran alongside the G20 events, emphasizing efforts to build a comprehensive and sustainable global economy.

This award serves as international recognition of SDB's commitment to empowering Saudi women in the entrepreneurial sector. Through innovative financing solutions, SDB has significantly contributed to fostering equal opportunities in the labor market, financing small and micro enterprises led by women, and supporting the achievement of sustainable development goals.

SDB’s win at the World SME Finance Forum is a testament to its role as a leading financial institution in the region, continuing its leadership in empowering female entrepreneurs and supporting pioneering projects. This accolade builds on SDB’s previous recognition at the World SME Finance Forum in India last year, where it was honored for its outstanding work in financing female entrepreneurs.

SDB plays an important role in strengthening Saudi Arabia’s national economy, aligning with Saudi Vision 2030 by focusing on promising sectors such as technology and electronic gaming. By enabling innovation and promoting national exports, the bank has cemented its position as a key driver of economic growth. In the first half of this year alone, SDB provided 4.6 billion SAR in financing, benefiting approximately 70,000 citizens across the Kingdom.

The World SME Finance Forum is a platform dedicated to improving access to finance for small and medium enterprises (SMEs), with a focus on digital innovations such as FinTech and artificial intelligence. These technologies help SMEs access fair financing, reduce financial risks, and support their sustainable growth on a global scale.