Establishing Al-Amal Bank reflects govt's trends to reduce poverty: al-Arhabi
The Source: www.sabanews.net - 04/01/2010
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Minister of Planning and International Cooperation Abdul-Karim al-Arhabi said on Monday that establishing Al-Amal Microfinance Bank reflects the government trends to reduce poverty and unemployment. Despite its newness, the bank was able to score a good number of small and smaller enterprises' owners in Yemen, who form the highest rate among the economic activities and contribute to providing job opportunities.He affirmed that the government early realized the important role that the small and smaller enterprises play in the economic development, so it put development of these enterprises on the top of its priorities and plans.Al-Arhabi pointed out that development of this sector is one of three main programs for which the Social Fund for Development (SFD) was founded.In its turn, the SFD has established 12 finance institutions and programs across the country which were able to present their services for more than 280 thousand projects with a total amount of YR 16 billion (1$ = YR 207).It is worth to mention that Al-Amal bank has given during last year over 5,858 financial grants with a total amount of YR 300 million in provinces of Sana'a, Taiz, Ibb and Aden, among them 53 per cent to finance women projects.
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