Top News



banking

Climate change could displace 216 millio...
September 14, 2021
Next-Gen Open Banking Modular Fintech as...
September 13, 2021
Bank’s reach is tangible, its rele...
September 8, 2021

The Commercial Bank announces its program to finance small and medium enterprises

August 3, 2021
banking

Damascus (ST): The Commercial Bank of Syria launched a program for financing small and medium-sized projects by the bank, to be officially launched early next week by receiving funding requests at the bank's branches in all governorates.

In a statement, the bank clarified that the financing program consists of several banking products with subsidized interests, as it supports this type of loans by reducing interest rates on all loans granted to these projects within this program at a rate of 2%.

The bank added that an essential part of the loans granted to projects is with interest subsidized by the government program to support the interests of loans by the Small and Medium Enterprises Development Authority to include the rest of the products offered for financing in the interest subsidy program.

According to the Bank, this program is a portfolio of productive loans through a group of investment loans with various terms, whose main objectives are focused on the production process and provide an added value to the economy, which contributes to raising the domestic product and empowering small and medium enterprises as a primary economic tributary during the current stage and contributes to solving the financing problems they face. These projects have subsidized benefits, provide job opportunities, and enhance their competitiveness in the national economy.

syriatimes