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Bankers and economists from As-Suwayda: The Small and Medium Enterprises Finance Program is an important step to support the wheel of development and the economy

2021-08-11T14:49:01.383Z


As-Suwayda, SANA- The launch of the Small and Medium Enterprises Financing Program at the Commercial Bank of Syria is a line


As-Suwayda-Sana

The launch of the Small and Medium Enterprises Financing Program at the Commercial Bank of Syria is an important step to encourage their establishment and development in a way that supports the wheel of development, production and the national economy.

In As-Suwayda Governorate, a number of specialists see great importance for this program, including the official of the committees and credit in the Local Development Office and the Mashrou’ program in the governorate, Walid Al-Hamoud, who told SANA reporter that the program was preceded by laws and decisions supporting production, such as Microfinance Banks Law No. 8 and the new investment law No. 18. Banks rushed to issue a package Decisions to encourage investors and craftsmen to set up productive projects.

He indicated that the program would enhance the investment of human and natural resources, fill the market need for products, relieve pressure on the public treasury, reduce unemployment and immigration, stressing the importance of strengthening the program through controls that facilitate the lending process away from routine to secure an incubator for agricultural, industrial and craft production that is not governed by complex licensing terms.

In turn, the Director of the Commercial Bank in As-Suwayda, Wafaa Al-Masry, stated that there are many questions and inquiries that began to be received by the bank about the loans that are granted according to the program.

She pointed to the importance of supporting the establishment of small and medium projects that provide job opportunities, reduce unemployment, contribute to achieving self-sufficiency in many products instead of importing them, and encourage owners of existing investments to develop their businesses, pointing to the competitive interest rate for the supported projects, which amounts to 4 percent of the loan value on the annually decreasing balance.

Al-Masry indicated that the supported projects are diverse, including “the production of requirements and equipment for renewable energy components, dairy factories, cheese and milk derivatives, projects for the manufacture of threads, automated textiles, fabrics, dyes, factories for the manufacture of threads and knitted fabrics, and the establishment, operation and restoration of facilities for the automatic textile industry, knitting, carpets, rugs, electrical and electronic industries, and the manufacture of lighting devices.”

The Commercial Bank of Syria officially announced last Monday the start of implementing its program to finance and support small and medium enterprises, which includes several banking products with simple subsidized interests, expressing its readiness to receive loan applications.

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Source: sena

All news articles on 2021-08-11

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