MANAMA: Tamkeen (formerly the Labor Fund) has partnered with Bahrain Development Bank (BDB) to ensure the flow of much-needed capital for the small and medium-sized enterprises (SMEs) segment of the national economy.
The move is seen as a step toward reviving a much-neglected segment of the national economy by using the BD 20 million facility through the bank.
An agreement has been signed by Tamkeen with BDB for the extension of its “facilitated support-financing program” in partnership with the bank to strengthen SMEs and entrepreneurs with financing to broaden their activities and their business growth.
The program, which has met with an excellent response since its launch last year, has approved nearly BD9 million for 400 Bahraini small and medium-sized enterprises and is viewed by the bank and the board as a vital link in the expansion of such enterprises and entrepreneur roles in the transformation of Bahrain and for working toward the leadership’s Vision 2030 goals of high living standards and prosperity for all Bahrainis.
