Coronavirus: Saudi Central Bank announces 50 billion riyal package

Package to support the private sector, says Saudi Central Bank statement

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The headquarters of Saudi Arabia’s central bank stand in Riyadh.
The headquarters of Saudi Arabia’s central bank stand in Riyadh.
Bloomberg

Saudi Arabia's central bank said on Saturday it had prepared a 50 billion riyal ($13 billion) package to help small and medium-sized enterprises cope with the economic impacts of the coronavirus outbreak.

The funding from the Saudi Arabian Monetary Authority (SAMA) is aimed at granting SMEs six-month deferrals on bank payments, concessional financing and exemptions from the costs of a loan guarantee programme.

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