Bahrain Development Bank (BDB) has announced plans to increase its capital base from BD50 million to BD65 million ($132 million to $172.3 million) following a key cabinet meeting.

The BD15 million boost will help the bank expand its activities to support industry, tourism, health, education and fishing sectors in line with government efforts to promote value-added projects and small and medium businesses, BDB said in a statement.

As the country's leading development financial institution, BDB offers a wide range of distinctive financial and advisory services specifically designed to meet SME’s special needs, it added.-TradeArabia News Service