Manama, May 15 (BNA) The Labor Fund (Tamkeen) signed a new strategic partnership agreement with the Bank of Bahrain and Kuwait in line with the new support programs.
This agreement comes as an addition to the strategic partnership agreements announced over the past two months with several major financial service providers in Bahrain with the aim of providing institutions with a variety of financing options. Tamkeen has signed partnership agreements with 9 banks so far with the aim of driving productivity and growth in the private sector.
On this occasion, Hussain Mohammed Rajab, CEO of Tamkeen welcomed this cooperation with BBK, and said: “These strategic partnerships ensure that organizations of all sizes receive funding to stimulate the economy and encourage investors to launch new businesses as well as support growth goals. and expansion of existing companies. Financing is a critical component of our support and is a key component to maintaining a strong private sector and enabling it to become an engine of economic growth. This initiative supports our commitment to achieving these goals in line with Bahrain’s national priorities and economic recovery plan, and our ongoing efforts to keep pace with changing market demands.”
He added, “We welcome BBK as a strategic partner for the first time in Tamkeen’s project support programs, and we look forward to seeing the impact of this partnership in advancing the development and growth of companies in all sectors.”
Tamkeen has recently established a series of strategic partnerships with several key players in the ecosystem to provide the necessary support to private sector enterprises. These partnerships included many financial services institutions that will provide various financing solutions to enable companies to expand inside and outside Bahrain. Over the past 13 years, Tamkeen has facilitated more than 9,000 loans to small and micro enterprises, thus enhancing the entrepreneurial environment and enabling growth and development for startups.
Earlier this year, Tamkeen revealed an enterprise-wide strategic transformation plan that included the launch of 16 support programs. The transformation initiative focuses on making a greater impact on the national economy in response to market needs. Tamkeen’s programs were developed after a series of consulting sessions with representatives from all sectors, thus meeting market demands. Programs are proactive, goal-based and impact-oriented, offering comprehensive support that meets the development needs of an organization and an individual at any stage of their growth journey. Strategic partnerships such as the one with BBK will provide support to organizations through some of the recently announced programmes, including Start Your Business, Business Growth, Go Digital and others.