Syria Trust for Development signs two service agreements with the National Microfinance Bank and Al-Baraka Bank 

The Syria Trust for Development signed on Wednesday the 7th of June 2023 two service agreements with the National Bank for Microfinance and Al-Baraka Bank, with the aim of financing commercial and professional projects within the markets of Aleppo old city.

These two agreements come in the same line of work that is in harmony with the work being done  within the old markets in order to return the cycle of life to those parts of the old city of Aleppo.
The Governor of Aleppo, Hussein Diab, pointed out in a speech that this operational product is an implementation  of Legislative Decree No. 13 issued by President Bashar al-Assad and carries a wide package of facilities and exemptions to support owners of economic activities within the ancient cities and their heritage markets. This too goes in line with the work guide launched by Mrs. Asma al-Assad during her participation in the closing session of the workshop for developing the strategy of straight street markets in order to continue the restoration of life to the old city and to direct efforts so as to provide the necessary support to merchants and craftsmen enabling them to restart work at their shops and advance production. This care and concern was a gateway and a road map in rehabilitation of work to preserve heritage and protect cultural identity in the old city.
The Director of the Syria Trust for Development, Jean Moghamez, stated that the signing of the two agreements aims to provide several restoration and operational products in order to restore the shops in a way that contributes to supporting the national economy, and includes the occupants of workshops and the owners of commercial and professional activities in the markets of the old city of Aleppo.
And the CEO of the National Bank for Microfinance, Munir Haroun, stated that the bank is working to provide financing products that help shop owners to restore their shops or buy goods and launch work in them, pointing out that through the agreement, interest-free loans will be provided with a simple lending commission for a period ranging from one to five years with a ceiling of 30 million Syrian pounds.
The CEO of Al-Baraka Bank, Muhammad Abdullah Halabi stated that the bank is supporting the economic movement in order to restore heritage to the old neighborhoods of Aleppo, indicating that a loan will be provided with a ceiling of 500 million over a period of one to five years.
NR
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