MOU between UoAB and WB regarding the financing of small and medium enterprises particularly of women

The Union of Arab banks UoAB exchanged with the World Bank a memorandum of understanding which provides the UoAB with the remit to carry out an new assessment of micro, small and medium financial enterprises in the Arab world and so as to develop specific standards for financial institutions wishing to receive subsidized loans from the World Bank.  This assessment will also aim to identify new economic and banking structures as well as to develop existing institutions that support small and medium enterprises which should ultimately create new employment opportunities and address unemployment.
Within the same vein, the general secretary of UoAB, Mr. Wissam Fattouh clarified that this project comes after three years of undergoing the first assessment which responded to the key recommendations of the World Bank used for financing Arab countries.  He noted that this new study will focus on how to finance small and micro enterprises, new enterprises, particularly enterprises run by women, as well as enterprises located in rural areas.  The study also looks at ways for ensuring collaboration of governments in supporting projects in rural areas as well as the provision of technical support by banking institutions.  
Source: Al-Nahar 31 December 2013