Jane McPherson, the chief of Middle East Department at the European Investment Bank (EIB), expressed the hope that the work in small and medium establishments in Syria would succeed, with a loan estimated at EURO 40 million.
In a statement to the al-Thawra daily, McPherson said the Bank capital amounted to EURO 80 billion and it offers long-term loans, particularly for the development projects.
The bank finances a number of countries in Asia, Africa and Latin America, whereas in the Mideast the Bank deals with eight countries, including Syria.
She noted that the loan granting process started in 1979 according to a definite program and definite budget for many years. The current program to the region extended from 2000 to 2006 with loans estimated at EURO 605 billion.
"Syria’s share is about EURO 500 million for development projects, particularly those which need rehabilitation in electricity, transport, health, education, environment and water and draining sectors and industrial development for the private sector. The public sector can be financed if it wants to shift to privatization", she added. (menareport.com)
© 2004 Mena Report (www.menareport.com)
