The Labour Fund (Tamkeen) has announced a three-track economic support bundle aimed at assisting small, medium and micro enterprises affected by the recent Iranian aggression.
The decision was approved by Tamkeen’s board of directors chaired by Prime Minister’s Court Minister Shaikh Isa bin Salman bin Hamad Al Khalifa.
Shaikh Isa underscored the importance of strengthening Bahrain’s economic competitiveness by supporting the private sector. He highlighted its critical role in achieving sustainable growth and advancing the objectives of Bahrain’s national development plans under the leadership of His Majesty King Hamad and the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister.
Shaikh Isa also emphasised the vital role of small businesses and SMEs in driving economic growth, creating jobs and supporting development pathways, ultimately leading to promising employment opportunities for Bahrainis.
A total of 7,250 Bahraini companies are set to benefit from the funding and liquidity support.
The package 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, and the third track introduces financing facilities to support operational needs, strengthen liquidity management, and sustain long-term business activities.
“The support bundle will strengthen the private sector’s resilience and ability to adapt to changes, and contribute to sustaining business operations and preserving employment,” Tamkeen said in a statement.
“Furthermore, these initiatives demonstrate Tamkeen’s dedication to continuing its support for Bahraini enterprises, enabling them to overcome operational and financial challenges.
“It also highlights the Labour Fund’s commitment to 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.”
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