Riyadh: Minister of Human Resources and Social Development and Chairman of the Board of Directors of the Social Development Bank (SDB) Ahmed Al-Rajhi patronized the signing of a cooperation agreement between the bank and the University of New Haven - Riyadh at the ministry headquarters, enabling students to benefit from the education financing product to enroll in the university's bachelor's and master's programs.
According to Saudi Press Agency, the agreement is the first of its kind through which the bank has added an international university operating in the Kingdom to its education financing ecosystem, reflecting its continued commitment to expanding access to high-quality higher education and enabling Saudi talent to continue their academic journey.
The agreement supports quality education pathways in the Kingdom by providing students with flexible options through the bank's education portal, which enables them to obtain financing of up to SAR100,000 with a repayment period of up to 48 months and no fees. The funds are transferred directly to the educational institution.
The SDB continues to strengthen its development ecosystem by building strategic partnerships with educational institutions, contributing to expanding access to education, empowering individuals to invest in their future, and supporting the development of a knowledge-based economy that keeps pace with the Kingdom's development aspirations.