Big banks must fund small business

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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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...

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.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

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