News Column

Investment Minister - Cabinet Approved Bill to Finance Micro-Enterprises

June 2, 2014

Minister of Trade, Industry and Investment Mounir Fakhri Abdel-Nour said on Thursday 29/05/2014 that the Cabinet approved on its meeting held on Wednesday a bill that organizes ways of financing micro-enterprises.

In press statements, Abdel-Nour said that the bill aims to find new methods for financing micro-enterprises in a way that ensures the interests of the parties concerned and monitoring the companies that offer financing of those projects to ensure efficiency and transparency.

the Minister noted that the bill is meant to achieve social justice and confronting poverty. He added that the loans of micro-enterprises will be offered by non-profit organizations and associations.

In addition, the bill defined 6-month grace period for the companies, societies and NGOs to amend its positions according to the provisions of the law.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: AllAfrica

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters