NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, January 10, 2014

The Arab Gulf Program for Development (AGFUND) called on Arab countries to set up more micro-financing institutions to help unemployed youth and poor people make a sustainable living.

Nasser Al-Qahtani, AGFUND executive director, said microfinance banks would create income and jobs for the vast majority of Arab communities. He was speaking at a meeting of the “Arab Aid” group in Riyadh on Tuesday.

“AGFUND creates jobs and helps deserving poor people. At the same time we maintain a sustainable business that covers our expenses in the long term,” he told Arab News.