A United Nations-backed initiative, “Mubadarati,” that was announced February 27, 2012, will provide loans to young people in the West Bank and Gaza. It will be carried out by the UN Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), with a partial guarantee provided by Silatech, a social enterprise based in Qatar that focuses on creating opportunities for youth in the Arab world [1] [2].
The initiative is intended to close the gap for young entrepreneurs who are not able to get loans without business operating experience, but also cannot start businesses without a loan. Loans will be financed by UNRWA’s microfinance program [1]. The budget of the program and the number of people to be served have not been released.
By Natalie Baer, Research Associate
Sources and Additional Resources:
[1] Young Palestinian entrepreneurs to receive loans through UN-backed initiative
http://www.un.org/apps/news/story.asp?NewsID=41382&Cr=palestin&Cr1
[2] Silatech: Who we are http://www.silatech.com/index.php?option=com_content&view=article&id=84&Itemid=2
MicroCapital Story, December 29, 2011, “MICROCAPITAL BRIEF: Grameen-Jameel Achieves 1.5m Microfinance Clients Reached, $53m Facilitated”
https://www.microcapital.org/microcapital-brief-grameen-jameel-achieves-1-5m-microfinance-clients-reached-53m-facilitated/
MicroCapital Story, March 28, 2008, “MICROCAPITAL STORY: The United Nations Relief and Works Agency (UNRWA) Provides Loans for Young Women Entrepreneurs in Syria through its Microfinance and Microenterprise Department (MMD)” https://www.microcapital.org/microcapital-story-the-united-nations-relief-and-works-agency-unrwa-provides-loans-for-young-women-entrepreneurs-in-syria-through-its-microfinance-and-microenterprise-department-mmd/
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