Staff Writer
The executive director of the Investment and Technology Promotion Office (ITPO) of the United Nations Industrial Development Organisation (UNIDO) in Bahrain Hashim Hussain has revealed a proposal to establish an international fund with an initial budget of BD40 million to support the sustainability of startups and micro, small, and medium-sized enterprises (MSMEs) in countries affected by wars and conflicts.
He noted that the fund’s value could increase depending on contributions from donors.
He explained that current support programmes are focused on rehabilitating the industrial sectors in Sudan, Palestine, and Syria, with the possibility of expanding in the future to include Yemen, Lebanon, Iraq, and Afghanistan, depending on the level of available funding.
Speaking during a celebration of the International Day of Micro, Small and Medium-sized Enterprises, Mr Hussain emphasised that Bahrain’s entrepreneurship model, launched more than 25 years ago through an initiative by His Majesty King Hamad as part of the kingdom’s reform project, is now being implemented in more than 56 countries worldwide.
He added that the Bahraini experience has evolved into a global model for promoting a culture of entrepreneurship and innovation in co-operation with the United Nations.
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