Projects to provide 250,000 job opportunities

The People's lending institutions committee, under Prime Minister Atef Ebeid, Monday met to discuss giving more loans to people to procure new job opportunities through specialized banks, businessmen societies and the Social Fund for Development (SFD).

The Finance Minister said that the meeting dwelt over the Government policy statement at the PA on the necessity of providing 800,000 jobs during this year.

"The discussions affirmed that the loans given to small establishments are the most suitable way to provide job opportunities," Ghali said.

Ghali said that the National Bank for Development is the most specialized bank in giving loans for small projects and that the loans are paid by 99 percent.

"The bank has 56 branches all over the country to advance loans to the small projects that require much manpower besides the NGOs, the businessmen associations, Nasser Bank of the Social Affairs Ministry and the SFD," Ghali said.

Ebeid reviewed, during the meeting, activating the role of such institutions and developing their administration.

"The representatives of institutions said that they can provide 20,000 or 30,000 jobs for small projects," Ghali said. The SFD chief said he will provide up to 156,000 jobs during 2001.

Ebeid decided to hold another meeting for the group to review certain proposals that the minister requested to float and put a timetable for their implementation. The proposals include giving training in popular loaning to hone the skills of employees.