The Microcredit Summit

16/3/2016 12:00 am

The Summit opened micro lending eighteenth – prospects for innovation in financial inclusion-organized by the Khalifa Fund for enterprise development and the Arab Gulf Programme for United Nations development organizations (AGFUND), the microcredit campaign in cooperation with the Arab Monetary Fund during the period from 14 to 17 March 2016, in Abu Dhabi, UAE Arabic
United. The Director General emphasized the Chairman of the Arab Monetary Fund, Dr. Abdulrahman Abdullah Al-Humaidi, at the opening session of the Summit sponsored by Sheikh Hazza bin Zayed Al Nahyan, Deputy Chairman of the Executive Council of the Emirate of Abu Dhabi, the growing importance of enhancing financial inclusion in the Arabic States and attention to micro, small and medium-sized enterprises, given the great need for the development of strategies to achieve the most comprehensive economic growth that helps to meet the challenges of unemployment and enhancing justice
Social. Hamidi underlined in a statement obtained by Fund «morning» to the efforts of the authorities in the Arabic States recently towards the pursuit of policies and tools that help improve the indicators of financial inclusion and access to finance and financial services, recognizing the extensive needs in this regard under low indicators of financial inclusion in the Arabic region compared to other regional groups.
And that, according to World Bank statistics, there are about 16 to 17 million micro and small enterprises in Arabic area, have access to finance and financial services
The official Hamidi to the numbers relatively low, or in fact are linked to high unemployment rates in the Arabic region, the highest among the regional groups on the youth level, according to the Arab Monetary Fund to about 28 percent to the Arabic countries to 2015 (from 16 – 25 years), compared with 12.4 percent worldwide.
At the level of women in the Arabic region, increases of up to 43 percent, compared with 12.7 percent globally. the Arab Monetary Fund (AMF) under the stratigith for future years attached great importance to financial inclusion, which included strategic initiatives and multiple activities, aims to contribute to promoting access to finance and financial services in the States
Arabic. Baghdad-Farah pumice
In line with government reforms on the economic side, plans to revitalize the local industry, called an industrial specialist to expedite loans to industrial entrepreneurs to update their
Competent said Mahmoud Alloush told» morning»: «Iraq was wasting its resources consumption by opening the border for all goods from the countries of the world, whether good or bad, welcome the application of the law on customs tariffs, which stressed the need to apply it correctly.
He was Director General of the Finance Ministry's Kadhim on the pre» morning»: the decision to apply tariffs do not return it, being a major part of the reform plan and
Stressing that income began to multiply significantly after applying
The resolution.
He noted Alloush that Iraq possessed 36 000 small and medium industrial project belongs to the private sector, with its products covering part of domestic market demand, some of which was available
For export.
He called for the revitalization of national industries and advancement to meet the market needs, as well as its contribution to employment and labour absorption to eliminate unemployment, as is the case in many countries in the world that accompanied the global progress and development in their products and demands of markets as a result of their support for the private sector as in the industrialized countries
The specialist explained the causes of the deterioration of national industries to the obsolescence of hardware and machinery and equipment used in the production, along with the development the happening in the world and the concern of Iraq wars absurd by the bygone regime, however, and after the change began guiding the Iraqi economy and its transformation to a market economy, but it did not provide adequate support to the private industrial sector to promote and develop national product similar to agricultural initiative.
However, he welcomed current trends to promote economy by granting loans to improve industry