MANAMA: The Bahrain Development Bank (BDB) is planning to collaborate with the Geneva-based Aga Khan Agency for Microfinance in a bid to develop a poverty alleviation fund.
A meeting between Finance Ministry Under-Secretary and BDB chairman Shaikh Ebrahim bin Khalifa Al Khalifa and the Aga Khan Agency for Microfinance general manager Jacques Toureille took place yesterday at the Bahrain Business Incubator Centre (BBIC).
“Poverty alleviation is a noble cause and through productive activities physical evidence of success will always be visible,” Shaikh Ebrahim told the GDN.
“The BBIC has been a success story and having outside officials visiting the centre will have a ripple effect that will help display its position as a main player in society.
“The development of microentrepreneurs at the BBIC has proven itself as being a success. Through microfinance a difference can be made to benefit nations struggling with poverty.
“Using microfinance to provide the investment needed to develop housing projects is something that the BDB is hoping to expand into, and with the help of the Aga Khan Agency we hope to benefit other countries not only in the region but wherever needed.”
“The agency is well-known in over 35 countries in the world,” Mr Toureille said.
“Through delivering materials cheaper in economies where the labour of building housing is done by the family itself we can strategically position ourselves to make a difference.
“We are currently active in countries including Afghanistan, Pakistan, Egypt and Syria and we hope that with the help of the BDB we will further expand.
“The possibility of developing co-operation in poverty alleviation to build a programme together will not only benefit us but our partners worldwide.
“With this we hope to further integrate into society with a joint effort to help emerging economies.”
The meeting at the BBIC also included a presentation from Unido head Hashim Hussein who introduced a number of companies currently operating from the BBIC.
“Microentrepreneurs can compete anywhere with tailor-made solutions dedicated to specific communities,” Mr Hussein said.
“With the help of the BBIC developing companies into small or medium sized businesses has been 84 per cent successful provided that the companies can survive the initial training period. This allows them to accumulate their wealth sufficiently enough to begin to develop into their next project.
“Our objectives include the ability to teach independence and self reliability that will allow our patrons to develop into fully fledged grown companies.”
Ismailimail 