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Financial support to women’s micro businesses
12-12-2018
In collaboration with Vitas, Fransabank distributed on December 10 a sum of USD 10,000 as partial disbursements to repay the micro credit loans that have been selected according to the indicators of sustainability, growth and profitability of respective businesses. During the ceremony, Fransabank general manager, Nabil Kassar, stressed the importance of partnership with Vitas S.A.L which began in 2007, pointing to its leading contribution to supporting low-income groups and promoting balanced development over all the country. Kassar also stressed that achieving sustainable development is one of the essential pillars upon which the bank bases its values and culture. This, he maintained, falls within the UN sustainable development goals, notably Goal 8 related to decent work and economic growth. Regarding Fransabank initiatives in terms of financial inclusion, it recorded about 21,000 micro credit loans equivalent to USD 41 million as of the end of 2017, with the rate of women beneficiaries reaching 41%. To recall, in 2018, Fransabank had distributed 10 loans divided equally among men and women aged between 20-27 years. ( Al Diyar, December 12, 2018)
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Collective for Research and Training on Development - Action (CRTD.A)