General Manager of Savings Bank: Grants for 102 small and micro projects

The Savings Bank continues to work on implementing its new program, which it launched at the beginning of this year, to finance micro, small and medium enterprises, and to provide credit facilities to them. 

Raghad Maasab, the Bank’s general manager, revealed that the number of micro and small development projects that were granted loans from the beginning of this year until the end of last October amounted to 102 projects with a total lending volume estimated at 559,855,000 Syrian pounds, in order to establish industrial,commercial and agricultural projects. 

She said that micro-development projects funded by the bank recorded a significant increase, with a total number of 97 projects, compared to small development projects, which amounted to 5 projects during the same period. 

With regard to loans with an insurance guarantee, Maasab explained that the bank has completed many procedures related to the implementation of the initial agreement with Syria Insurance to grant loans to people with limited income with an insurance guarantee at the beginning of next year. 

She added that the bank has obtained the necessary approvals from the Ministry of Finance and the bank’s board of directors to amend its operations system to accept this type of loan. 

She said that the bank is also currently studying raising the ceiling of the limited income loans it grants. 

Maasab said the signing of an agreement with the Loan Risk Guarantee Corporation to provide the necessary guarantees for granting loans to small and medium enterprises, as workshops is being prepared in cooperation with the Corporation to start issuing guarantee instruments. 

O. al-Mohammad