A three-track economic support bundle announced to support small, medium, and micro enterprises affected by the recent hostile Iranian aggression to ensure operational and national workforce sustainability
His Highness Shaikh Isa bin Salman bin Hamad Al Khalifa, the Minister of the Prime Minister’s Court and Chairman of the Board of Directors of the Labour Fund “Tamkeen”, today chaired the Board of Directors Meeting.
During the meeting, His Highness underscored the importance of strengthening Bahrain’s economic competitiveness through supporting the private sector. His Highness emphasised the critical role of the private sector in achieving sustainable growth, supporting the objectives of Bahrain’s national development plans under the leadership of His Majesty King Hamad bin Isa Al Khalifa and the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.
His Highness emphasised the essential role of small businesses and SMEs in driving economic growth, job creation and supporting development pathways which support the creation of promising job opportunities for Bahrainis and contribute to the Kingdom’s national aspirations.
During the meeting, the Board of Directors, led by His Highness, approved a grant and financing support bundle, enabling 7,250 Bahraini companies to benefit from funding and liquidity. The initiative is designed to assist enterprises affected by the recent hostile Iranian aggression, to preserve employment levels, and aid the private sector, ensuring economic growth.
The support bundle is designed around three main tracks. The first provides financial grants to enterprises directly affected by the conflict, helping business owners to financially recover from infrastructure damage or a lack of access to their premises. The second track offers financial grants to help enterprises cover essential operating expenses, ensuring business continuity and job security during challenging economic periods. The third track introduces financing facilities to support operational needs, strengthen liquidity management, and sustain long-term business activities.
The support bundle was launched to meet current challenges to support in strengthening the resilience of the private sector and its ability to adapt to changes, and contribute to sustaining business operations and preserving employment. These initiatives also demonstrate Tamkeen’s dedication to continuing its support for Bahraini enterprises, enabling them to overcome operational and financial challenges and reinforcing their vital role in driving economic development while strengthening the private sector’s position as a key driver for the Kingdom’s economic growth.