SAR 1 Billion Green Financing Program Launched to Boost Sustainability
The initiative, backed by Riyad Bank, aims to fund eco-friendly projects and promote sustainable business practices.
A new SAR 1 billion environmental financing initiative has been introduced to support private sector investments in sustainability-focused projects. The program, launched by Minister of Environment, Water, and Agriculture Abdulrahman Al-Fadhli, is designed to drive innovation in green projects while encouraging businesses across various industries to adopt eco-friendly practices.
The initiative is backed by Riyad Bank, which will play a key role in financing sustainability-focused businesses and projects. By offering tailored financial support, Riyad Bank aims to facilitate investments that promote clean energy, resource conservation, and pollution reduction across multiple sectors.
Coinciding with the program’s launch, officials also unveiled a digital platform for the Incentives and Grants Program, streamlining the application process for businesses and entrepreneurs seeking funding for environmental initiatives. The platform will provide financial incentives to support projects that aim to reduce pollution, conserve natural resources, and promote environmental awareness.
To further facilitate investment in the green economy, the Environmental Fund signed an agreement with the Small and Medium Enterprises Loan Guarantee Program (Kafalah). This partnership will provide credit guarantees to SMEs, helping them secure financing for sustainability-driven projects while encouraging lenders to support environmental ventures.
This initiative aligns with Saudi Arabia’s broader environmental agenda under Vision 2030, reinforcing the country’s commitment to sustainability, climate action, and green innovation.
