VOL. XLII

No. 32

9-August-1999

SAUDI ARABIA

IFC To Support SMEs In Saudi Arabia

The International Finance Corporation (IFC) announced on 4August that it had approved $100mn project to support small and mediumenterprises (SMEs) in Saudi Arabia. The project involves the establishment ofthe country痴 first joint-venture leasing company, Saudi Orix LeasingCorporation (SOLC), and aims to support the government痴 efforts to diversifythe economy while meeting the financing needs of the domestic...