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12:57
Monday September 16, 2019
Written by Manal Masri:
Jihad Azour, director of the International Monetary Fund for the Middle East and North Africa, said that SMEs create about 15 million new jobs in Arab countries.
Azour said at the opening session of the workshop "Supporting SME Financing in Arab Countries", Monday in Cairo, that Arab countries must create more than 28 million jobs from here 2025.
Financial inclusion should be of great importance to central banks, which has led the IMF to build a full team of departments to contribute to financial inclusion and provide technical support to assist countries in their efforts to achieve financial inclusion. provide financing to SMEs.
The team is also helping to help all groups, especially marginalized groups in rural areas, youth and women get funding for their projects, Azour said.
Azour pointed out that the main way for Arab countries to create jobs is to promote and develop financial inclusion and target the financing of small and medium-sized enterprises to enable young people and marginalized and low-income groups to access funding and to make greater use of financial technology.
He stressed that the strengthening of financial inclusion and SMEs will help Arab countries to increase their economic growth rate by about 3% over the next three years, to increase employment and the employment rate and create employment opportunities of 1% per annum, highlighting the importance of focusing on financial inclusion.
Azour said the IMF cooperates closely with central banks and governments in the region and with organizations such as the Arab Monetary Fund, just as it works with other parts of the world to promote financial inclusion. .
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