The Department Director of the Economic Studies and Reforms at the Ministry of Economy and Trade Hussein al-Amami stated that during the ministry’s meeting with a number of banks: « An expanded meeting was held under the chairmanship of the Economy and Trade Minister Mohammed al-Huwaij and a number of directors, led by the Authority of Investment Promotion, Privatization Affairs and the National Program for Projects SMEs, the Credit Guarantee Fund, and the Insurance Supervision Authority.
He added: “The issue is related to the search for additional funding sources for small and medium projects. A number of topics were discussed and some obstacles that stand in the way of project implementation, especially for young job seekers who have ideas for project implementation”.
He continued by saying: “It was agreed to facilitate all the difficult procedures that stand in the way of implementing projects, by preparing a comprehensive guide that applies to all specialized banks and insurance companies, as the ministry made serious proposals regarding the establishment of investment funds between insurance companies and private banks to support the program of granting credit and loans in order to achieve an increase in the GDP, diversify sources of income and improve the level of citizens”.
Adapted from Sada Website