Big banks must fund small business

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The Arab Monetary Fund and the World Bank urged banks in the Middle East North Africa region to offer more loans to small and medium sized businesses to spur economic growth.  They hope that increased investment will create more jobs in a region where unemployment runs as high as 25% amongst youths, which was one factor in the recent political unrest in the region.

Small businesses are seen internationally as engines of successful growth, but only about 8% of loans in the MENA region go to these companies.  Instead, wealth is concentrated in larger companies and corporations, which can lead to destabilization.  Experts feel it is crucial to the success of the region to promote credit amongst smaller enterprises, and call on the banks in the region to make it happen.  The Arab Development Fund has kickstarted the campaign with a $2 billion fund for small businesses.

 

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Reading Time: 1 minute

The Arab Monetary Fund and the World Bank urged banks in the Middle East North Africa region to offer more loans to small and medium sized businesses to spur economic growth.  They hope that increased investment will create more jobs in a region where unemployment runs as high as 25% amongst youths, which was one factor in the recent political unrest in the region.

Reading Time: 1 minute

The Arab Monetary Fund and the World Bank urged banks in the Middle East North Africa region to offer more loans to small and medium sized businesses to spur economic growth.  They hope that increased investment will create more jobs in a region where unemployment runs as high as 25% amongst youths, which was one factor in the recent political unrest in the region.

Small businesses are seen internationally as engines of successful growth, but only about 8% of loans in the MENA region go to these companies.  Instead, wealth is concentrated in larger companies and corporations, which can lead to destabilization.  Experts feel it is crucial to the success of the region to promote credit amongst smaller enterprises, and call on the banks in the region to make it happen.  The Arab Development Fund has kickstarted the campaign with a $2 billion fund for small businesses.

 

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