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FINANCIAL NEWS
JCCI to launch supportive funds for SMEs
21 Mar 2011
(MENAFN) The Jeddah Chamber of Commerce and Industry (JCCI) chairman, Saleh Kamel, said that the institution has plans for establishing an endowment fund for aiding small and medium enterprises (SMEs), with a capital of USD26.5 million, reported Arab News.
Kamel said that the chamber successfully secured over half the amount of needed money within only two days since it launched the initiative. He said that family businesses can also benefit form the support provided by the fund.
Kamel added that the chamber is also working on establishing another fund at the capital of USD53.1 million for the support of investment projects.
It is worth noting that projects initiated by JCCI were able to secure jobs for 500,000 Saudis, according to Kamel.
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