The Bahrain Development Bank (BDB) is planning to collaborate with the Geneva-based Aga Khan Agency for Microfinance in a bid to develop a poverty alleviation fund.
A meeting between Finance Ministry Under-Secretary and BDB chairman Shaikh Ebrahim bin Khalifa Al Khalifa and the Aga Khan Agency for Microfinance general manager Jacques Toureille took place yesterday at the Bahrain Business Incubator Centre (BBIC).
Poverty alleviation is a noble cause and through productive activities physical evidence of success will always be visible," Shaikh Ebrahim told the GDN.
The BBIC has been a success story and having outside officials visiting the centre will have a ripple effect that will help display its position as a main player in society.
"The development of microentrepreneurs at the BBIC has proven itself as being a success. Through microfinance a difference can be made to benefit nations struggling with poverty.
"Using microfinance to provide the investment needed to develop housing projects is something that the BDB is hoping to expand into, and with the help of the Aga Khan Agency we hope to benefit other countries not only in the region but wherever needed."
"The agency is well-known in over 35 countries in the world," Mr Toureille said.
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