Ebdaa Bank gave loans worth BD3 million

Manama : Ebdaa Bank for Microfinance has granted 2415 loans for Bahraini entrepreneurs and SMEs valued at 3.045.965 BD. Forty nine pc of loans were paid back, while 81 pc of borrowers renewed their loans.

According to a survey issued by Ebdaa Bank, 52pc of borrowers are Bahraini women, while 51pc of total borrowers are youth under the age of 35 years. Value of micro loans estimated at BD200 to BD5000, while the average of one outstanding loan of BD893 over a 14-months period.

Dr Khaled Al Ghazzawi, CEO of Ebdaa Bank, noted that those figures mark a significant success, which have been achieved despite all economic challenges.