HH Shaikh Nasser hails stimulus package

Manama, Mar. 17 (BNA): A tribute was paid to His Majesty King Hamad bin Isa Al-Khalifa for the bold steps aimed to overcome current circumstances facing the Kingdom of Bahrain due to the novel coronavirus (COVID-19). His Royal Highness Prince Salman bin Hamad Al-Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister was also hailed for his constant follow-up. His Majesty the King’s Representative for Charity Works and Youth Affairs, National Security Advisor and Supreme Council for Youth and Sports Affairs (SCYS) Chairman His Highness Shaikh Nasser bin Hamad Al-Khalifa hailed the Central Bank of Bahrain (CBB) directives to the banks and financial institutions to defer the repayment of loans to citizens for a period of six months. “The step will contribute to providing liquidity every citizen and revitalizing the national economy in these exceptional circumstances, in addition to alleviating the burdens on citizens, especially young people”, he said. He stressed the importance of supporting young entrepreneurs so as to enable their small and medium enterprises (SMEs) to continue functioning normally and contribute to spurring economic growth. “Deferring the repayment of loans aims to support small and medium enterprises spearheaded by young Bahraini entrepreneurs achieve the growth of this sector at this current stage”, he said. He called upon the banks and financial institutions to respond positively to the CBB directives which would boost the national economy and provide liquidity for citizens, small and medium enterprises.