Workers disinfect the ground around the Kaaba, the cubic building at the Grand Mosque, in the Muslim holy city of Mecca, Saudi Arabia, March 7, 2020. Saudi Arabia emptied Islam's holiest site for what they say sterilization over fears of the new coronavirus. (AMR NABIL / AP)

RIYADH – The Saudi Arabian Monetary Authority announced on Saturday a 50-billion-riyal (US$13.3 billion) program to cushion the private sector from the impact of coronavirus, the Saudi Press Agency (SPA) reported.

The program, which mainly covers small and medium enterprises, will grant them a six-month extension on bank debts by providing 30 billion riyals for banks and financial companies, the authority said in a statement carried by the SPA.

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The private sector will also get funding amounting to 13.2 billion riyals, while 6 billion riyals will go to banks to enable them to give some payment exceptions to small and medium firms, according to the statement.

The program will also support three-month payments of stores and private companies with a budget of 800 million riyals. 

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Earlier in the day, the Saudi health ministry announced 17 new coronavirus cases, bringing the total cases in the country to 103.