Bahrain eyes key Arab Fund accord
Manama, May 10, 2013
Bahrain is mulling plans to sign a financing agreement with the Arab Fund for Development to allocate $30 million to finance projects of entrepreneurs in the kingdom, reported the Gulf Daily News, our sister publication.
This was revealed by United Nations Industrial Development Organisation's (Unido) Arab Regional Centre for Entrepreneurship and Investment Training board of trustees chairman Shaikh Ibrahim bin Khalifa Al Khalifa, the report said.
He said that the issue is being studied by the Finance Ministry and is expected to be announced soon.
Shaikh Ibrahim said this amount will be cut off from a total amount of $2 billion allocated by the Arab Chambers of Commerce to support entrepreneurs in 2009.
Shaikh Ibrahim's statement came on the sidelines of a Press conference held by Unido to announce the launch of the First International Investment Forum for Entrepreneurs, which will be held in Bahrain in January 2014.
He said that the forum will be accompanied by an exhibition of products of the entrepreneurs.-TradeArabia News Service