Tamkeen to help restructure pilot graduate loans
Manama, April 25, 2013
Tamkeen, Bahrain’s labour fund, has reached an agreement with the Bahrain Development Bank (BDB) to restructure the loans of 157 Gulf Aviation Academy (GAA) pilot scheme graduates still looking for jobs.
It means the repayment period will be extended to up to seven years, including a two-year grace period, with monthly payments starting from BD100 ($263), according to a report in the Gulf Daily News, our sister publication.
The announcement follows the signing of an agreement with Gulf Air to offer two-year job training contracts to 40 engineers from Tamkeen's aeronautics engineering programme.
"It is Tamkeen's top priority to empower Bahrainis to kick-start their careers and be part of national economic progress," said Tamkeen acting vice-president of human capital development Amal Al Kooheji.
"As such, we are delighted to reach this restructuring agreement with BDB which will offer financial relief to the pilot scheme beneficiaries while we look for suitable employment opportunities for them with regional potential partners."
The pilot scheme is a joint financing initiative between Tamkeen, BDB and GAA which seeks to graduate qualified Bahraini pilots. – TradeArabia News Service