Damascus-Sana
The Central Bank of Syria announced the establishment of the Loan Risk Guarantee Corporation for small and medium-sized projects and the launch of its work during the very near period as one of the most important steps that will be positively reflected on the Syrian economy and the lira exchange rate, given that financing the production process and small and medium projects contributes to increasing local production and driving development Economic forward.
Maamoun writer, Director General of the Foundation stated in a statement to the SANA Economic Bulletin that the business is in its final stages to launch work on the ground by equipping the headquarters with all the requirements of work and preparing the internal system, noting that the Foundation was created according to Law No. 12 of 2016 as a private institution owned by public and private banks and microfinance institutions With a capital of 5 billion liras divided into 6 public banks, 11 private banks and 3 microfinance institutions.
On the sectors targeted by the institution's work, the writer explained that it works within a vision that is consistent with the framework of development trends for the next stage, and therefore, during the coming years, focus will be on a number of important sectors such as high-value industrial projects sector and industrial projects that are based on investing patents and agricultural and animal production projects that depend On modern technologies and industries with high technological content, noting that priority is also given to projects that use renewable energies, entrepreneur projects, tourism projects, crafts, crafts, and projects. The list you want to expand its activities and increase production will lead to a substantial increase productivity and create multiple job opportunities and employment of energies and capital in the right place and thus supporting the national economy.
A writer pointed out that the institution will have a different role in the mechanism of dealing with small and medium projects looking for financing from banks that classified their financing within the risk circle, where the institution works to provide the necessary guarantees that small and medium enterprises do not have, which helps them to obtain financing without burdens An additional financial statement for it, indicating that the Board of Directors consists of a member representing the Ministry of Economy to review priority economic projects and a member of the Monetary and Credit Board to observe the commitment to the state's monetary policy in addition to representatives from private and public banks and financial financing institutions Seen.
For his part, Ihab Isamander, Director General of the Small and Medium Enterprises Development Authority stressed the importance of activating the role of the Loan Risk Guarantee Corporation from the development role that this sector itself plays, as small and medium enterprises constitute more than 98 percent of projects in Syria, which form the basis of economic and social development in the period Coming.
Isamandir said in a similar statement to the bulletin that securing the necessary financing for these projects is one of the most important difficulties that hinder its development and growth. Therefore, we are counting on the role of the Loan Guarantee Corporation in this field to increase the number of beneficiaries of financial inclusion and achieve stability in the work of entrepreneurs, especially business leaders.
Nadim Moalla
SANA Economic Bulletin
Follow the latest news on the Telegram application on smartphones via the link:
https://telegram.me/SyrianArabNewsAgency
Follow our page on the (VK) social networking site:
http://vk.com/syrianarabnewsagency