Prince Talal bin Abdulaziz Al Saud, President of the Arab Gulf Programme for Development (AGFUND) today called for adopting a new orientation that makes poverty combat through tiny finance a core of financers' activity and stimulate the donation recipients to pave the way for tiny financing. In a key speech at the opening ceremony of the 73rd ordinary meeting of the Coordination Group for Arab Assistance Institutions and Funds held in Riyadh today, Prince Talal bin Abdulaziz briefed the group on the progress of his initiative to fight poverty through tiny finance and establishing of banks for the poor. During the speech, read on his behalf by AGFUND Executive Director Nasser Bakr Al-Gahtani, Prince Talal bin Abdulaziz reported that AGFUND is going to establish three more banks of the poor in the Philippines, Tunisia and Mauritania. This will bring to ten the number of banks for the poor after the ones operating in Yemen, Bahrain, Syria, Sierra Leone, Lebanon, Sudan and Palestine. The number of beneficiaries from these banks stood at more than 1.4 million poor persons, he added.
