A World Bank loan of thirty million USD towards financing small and medium enterprises and for strengthening employment || Newsletter (Arabic)

The Minister of Finance, Mohammed Safadi, signed an agreement with the World Bank representative for the MENA region, Farid Belhage, and the director of Kafalat, Khater Bou Habib, through which the World Bank will provide a loan of USD 30 million to Lebanon in support a programmes to finance innovative small and medium enterprises through Kafalat.  According to the agreement, the program seeks to strengthen the investment market and to provide financing got early investment in innovative institutions that are emerging and viable financially.  Grants will be provided to develop new ideas that carry strong potentials as well as develop strategies and plans.

According to Belhage, this initiative is part of the on-going collaboration between the World Bank and Lebanon and seeks to securing sustainable job opportunities, reducing unemployment especially amongst university graduates and creating small and medium investment companies which in turn will invigorate the Lebanese economy.
Source: Al-Safir, Al-Diyar, Al-Nahar 14 February 2013