The project aims to develop and promote existing small and micro enterprises, to raise funds and income of SMEs, to help the transformation of SMEs from informal to formal sector, and ultimately contribute to solving the radical and chronic unemployment problem.
The ABA/SME project was launched in January 1990. After two years of operation, the project generated enough income to cover all operating costs. In 1994, ABA’s operating cost ratio ranked among the best in the world. In May 1997, the project expanded its operations to cover other provinces. In June 1998, the UNDP signed a contract with ABA to act as the International Technical Service Provider for its MicroStart Program in Bahrain and in 1999 a similar contract was signed for the republic of Yemen. In September of 2001 the project won the AGFUND first place prize in the second category. The project now is under an implementation study to become one of the renowned SME banks in the region.