UAB, World Bank to Trace Size of Arab Funding for SMEs Projects

Wissam Fattouh, Secretary General of Union of Arab Banks said the Union has recently signed an agreement with the World Bank for conducting study to the Arab Banking Sector regarding the size of Small and Medium Sized Projects in the Arab World beside the volume of submitted funds from the banking sector for these projects.

Fattouh has quoted Amwal Al Ghad that there is similar study from around 4 years ago, it shows that Small and Medium Projects are suffering from lacking of fund which represents  10% from the total loans of Arab banking.

The current study will help identify the obstacles facing the growth of SMEs and the proportion of Arab banks to finance these projects, Fattouh explained.

Union of Arab Banks is planning to put unified definition for SMEs according to the world criteria through cooperating with the World Bank, Central Banks and Arab banks.