Bank for the Poor to be Launched in Syria in Two Months

Riyadh, June 07, SPA -- The Bank for the Poor will be launched in
Syria in the next two months so that Syria becomes the sixth country
having this type of banks within the framework of the bank project,
led by Prince Talal bin Abdulaziz, President of Arab Gulf Program for
United Nations Development Organizations (AGFUND).

On his part, Prince Talal stressed that banks for the poor which
provide small loans are considered as a strategic option for
confronting poverty and its consequences.

AGFUND's Executive Director Nasser Al-Qahtani, has recently visited
Syria and met with Syrian Prime Minister Mohammed Naji Itri, who
welcomed the implementation of the initiative of the Bank for the
Poor in Syria.

Al-Qahtani pointed out that Syrian founding partners in the bank
have committed to pay an amount of $ 6.1 million, which is more than
the required capital of $ 5.3 million.

--SPA