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Local news - Economy

First Vice President lauds Savings Bank's role in funding graduates


Khartoum, Nov 14 (KUNA) - First Vice President of the Republic and National Prime Minister Lt. Gen. Bakri Hassan Saleh has praised the role played by the Savings and Social Development Bank in social development and the provision of funding for graduate projects.
The First Vice-President inspected a number of projects financed by the bank for graduates in various fields.
At the opening of the Free Labor Festival organized by the National Authority for the Employment of Graduates at the Fairgrounds last night, Lt. Gen. Saleh praised the efforts of the Savings and Social Development Bank in providing microfinance to various segments, especially graduates and small producers.
The General Manager (GM) of the Savings and Social Development Bank, Al-Zain Omar Al-Hado said that the bank has remained providing funds to all segments of the society by focusing on the economically active categories through the microfinance program, pointing out that the bank provided funding through leading graduates' portfolio with a number of banks in excess of 53 million pounds for projects that exceeded 4,000 in all fields of production.
Al-Hado revealed that the bank has had many successful experiences in the framework of graduate funding, which has started with smaller funding and is now becoming a major project, quoting the funding of a number of pharmacy graduates in the city of Kosti, White Nile, and now they have reached the stage of manufacturing in the field of medicine and drugs such as the Golden Aim, which produces three types of drugs, explaining that there are several of these experiences funded by the bank through its branches, which totaled to 61 branches and exchange offices through easy banking guarantees.
It is noteworthy that the First Vice President of the Republic had handed over earlier this year the Savings and Social Development Bank the Award of the Presidency of the Republic of social responsibility for the year 2017.
BH/BH