66 June 2014 www.bahrainthismonth.com interview Building on substantial growth over the past five years, the Bahrain Development Bank (BDB) intends to increase lending to businesses to more than BD60 million this year. BDB chief executive Nedhal Al Aujan announced that the bank will launch new finance facilities which will focus on supporting the industry, education, medical care and food production sectors in Bahrain to create around 4,000 jobs. The bank’s financing programmes over the past five years amount to around BD212,881 million, which have created more than 17,876 job opportunities in the process. “Projects financed by the bank have contributed in increasing the Kingdom’s exports to international markets. These projects helped bring in around BD104,030 million in foreign currencies into Bahrain between 2009 and 2013,” noted Al Aujan. Going forward, the BDB aims to improve its export support programme in order to further encourage small and medium enterprises to export their merchandise. For the remaining part of this year, Bahrain’s leading development finance institution has lined up a roster of programmes to expand its financial and non-financial services. The bank widened its presence by opening its eighth branch in Riffa this year. It will add two more branches, at the Manama Souq and Seef Mall Muharraq, over the coming months. Women and youth in Bahrain stand to benefit on the financing front, with over 60 per cent of the bank’s projected BD60 million allotment earmarked for startups in this segment. On the non-financial front, over 3,000 people will benefit from the bank’s consultancy and training services this year, added Al Aujan. More importantly, the bank will continue to expand its incubator services for start-up companies operating in various sectors. Following the success of the Riyadat Centre in A’ali, the BDB will launch another incubator for members of the Bahrain Businesswomen’s Society. In addition, the first branch of its Rukn incubator for ICT start-ups will open at Bab Al Bahrain this summer. The bank has plans to set up multiple multimedia incubators during the second half of the year. BDB’s strategic partnership with Tamkeen has improved its financing profile, with around BD111.5 million being spent jointly in financing during the past five years. The cooperation with Tamkeen involves the launch a number of specialised programmes such as schemes to support feasibility studies, pre-seed capital, innovative ideas and ICT finance. “The government has entrusted the bank with a crucial task of promoting investments in Bahrain, aimed at diversifying the economic base, creating new employment opportunities for Bahrainis and contributing to the overall socio-economic development. We will continue to play that role,” said the BDB. Call 17 511-111. Creating Opportunities BAHRAIN DEVELOPMENT BANK Nedhal Al Aujan With a slew of projects lined up this year, the Bahrain Development Bank intends to ramp up financing in order to build a culture of entrepreneurship in the Kingdom.
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