Prince Talal bin Abdulaziz inaugurates bank in Philippines

Prince Talal bin Abdulaziz Al Saud, President of Arab Gulf Program for Development ( AGFUND ) inaugurated here today the Bank of Creativity for Microfinance established by the program in partnership with the government and the private sector in the Republic of the Philippines in the presence of Philippine Vice President Jejomar Binay. Addressing the inaugural ceremony, the Prince said that AGFUND adheres to its strategy, policies and principles of non-discrimination between communities in development aid and support for the poor to provide a decent life for them, noting that the number of banks for the poor established by the AGFUND project amounts to 7 banks in Jordan, Yemen, Bahrain, Syria, Lebanon, Sierra Leone, and Sudan; and the number of beneficiaries amounts to 1,400,000 (one million four hundred thousand). After the ceremony, Prince Talal bin Abdulaziz signed an agreement on the Bank inauguration with President of Chamber of Commerce and Industry of the Philippines Migaul Ferla. The ceremony was attended by Prince Abdulrahman bin Talal bin Abdulaziz; Prince Mansour bin Talal bin Abdulaziz; Saudi Ambassador to the Republic of the Philippines Abdullah bin Ibrahim Al-Hassan; Philippine Ambassador to the Kingdom of Saudi Arabia Ezzeddin Tajo and a number of ambassadors of Arab and Islamic countries.