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In Egypt, Will an Economic Revolution Follow?
The popular uprising in Egypt has quickly been accorded a conventional explanation: The people want democratic government. This is not necessarily wrong, but it risks ignoring deep-seated trends in Egypt that, if neglected in the coming political transition, will only boil over again. Specifically, Egypt suffers from a stagnant economy and it should not be surprising that a lack of economic opportunity contributed to ...
- Region
- North Africa & Near East
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Egypt Plans Stimulus to Revive ?Sudden Stop? Economy
Ashraf Abdel-Wanis had plenty of reasons to join tens of thousands of fellow Egyptians in their successful push to oust President Hosni Mubarak. At 39, he last worked five years ago in a sugar factory and now gets by mainly on his wife’s $50 monthly salary and his mother’s pension. "The Egyptian family’s nutrition consists of beans, lentils and beans," he said in an interview in Cairo’s Tahrir Square, the plaza at the heart of almost three weeks of protests. "If they’...
- Region
- North Africa & Near East
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Citi, Citi Foundation join hands with PMN
KARACHI: Citi and the Citi Foundation have joined hands with the Pakistan Microfinance Network (PMN) to launch Phase II of their flood relief efforts. Citi, the Citi Foundation and Citi Alumni have contributed over $425,000 toward the recent flooding disaster in the country. As part of Citi Pakistan’s Phase II of flood relief efforts, they have launched a ’Microfinance and Disaster Management Capacity Building Programme’ for the microfinance industry with the PMN. Through these pr...
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- North Africa & Near East
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Islamic Micro Lenders Set Up Global Network
LAHORE: Islamic Microfinance Network (IMFN) has been set up to assemble the international Islamic Microfinance organisations on one platform, a statement said. The IMFN head office is in Lahore and its regional offices will be in Ghana, Mauritius and Middle East. According to IMFN official the board members of IMFN are Farida Tariq, Chairperson, Amjad Saqib, Vice Chairman, and Muhammad Zubair Mughal, Chief Executive Officer. Kawako Yasuma, CEO, Ghana Islami...
- Region
- North Africa & Near East
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IFC to Push Yemen Microfinance
DUBAI, Nov 4 (Reuters) - The World Bank is increasingly focusing on microfinance and small business loans in Yemen as the spike in violence this year is making it hard to find viable projects for investment, a senior official told Reuters. International donors are finding it harder to locate investment projects in the impoverished Arab state, crippling its efforts to diversify its economy away from hydrocarnons, said Raymond Conway, who represents Yemen at the International Finance Corp...
- Region
- North Africa & Near East
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Damascus Turns to Microfinance to Combat Poverty
A regional front-runner in microfinance legislation, Syria is still struggling to find a sustainable model to finance its rural poor. Currently, NGOs geared toward poverty alleviation dominate Syria’s microcredit market, but further expansion of their role is inhibited by outdated government regulation. The entry of more private players is needed to increase market competition ...
- Region
- North Africa & Near East
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Women on the West Bank Fight Poverty with Enterprise
Nearly a year after the war in Gaza, women in the West Bank are overcoming poverty by running their own co-operatives. With help and funding from several aid agencies, women have been able to set up their own small businesses providing training and marketing assistance...
- Region
- North Africa & Near East
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Abraaj Capital to Buy Riyada Ventures, Focus on SME investments
Dubai-based private equity firm Abraaj Capital has agreed to acquire all of Riyada Ventures as it moves into the venture capital space. Riyada Ventures, which was set up in the Jordanian capital of Amman in 2005, will be integrated by Abraaj into its newly launched regional SME and entrepreneurship initiative. Khaldoon Tabaza will continue as the CEO of the new business line of Abraaj. Tabaza has worked in the MENA venture capital industry since 2000, p...
- Region
- North Africa & Near East
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