We use Cookies. Read our Terms
- Where we work
- Byblos Bank Syria (BBS)
Byblos Bank Syria (BBS)
Syria
| Borrower | Byblos Bank Syria (BBS) |
| Financing Type | Private Sector & Trade Finance |
| Instrument | Private Sector Equity |
| Focus Area | Financial |
| Approved | 16.04.2003 |
| Signed | 10.08.2005 |
| Status | Completed |
| Loan Administrator | OPEC Fund |
| OPEC Fund Contribution (US$m) | 3.00 |
The Fund’s equity investment in this new banking
institution will help meet the financing needs of
Syria’s private enterprise sector. In line with government
aims to modernize the banking system,
Byblos will provide new services, including assistance
to small and medium-scale enterprises
which constitute an important part of economic
activity in the country. In 2001, the Syrian government
approved a new law with the objective of
reforming the banking system and transforming its
effectiveness. The establishment of new private
banks is seen as a vital step in establishing a strong
environment for stimulating domestic economic
growth.