The Tal’afar Economic Development Center (TEDC), a microfinance institution partner of the United States Agency for International Development (USAID)-Tijara, an Iraq-based organization funded by USAID which promotes economic development in Iraq, has launched a new agricultural loan product in the Iraqi province of Ninawa.
The loan product has a repayment period described as “long”, a grace period of three months and a maximum loan amount of USD 5,000. The repayment terms are based on the seasonal output of the farmers and the loan can be guaranteed by anyone with financial means.
TEDC provides loan products to small-business manufactures, traders and service providers. TEDC was founded in 2007 and reported total assets of USD 4.8 million and a loan portfolio of USD 3.4 million as of 2008, according to the Microfinance Information Exchange.
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By Jennifer Shevock, Research Associate
About Tal’afar Economic Development Center:
The Tal’Afar Economic Development Center (TEDC) is a nonprofit organization that facilitates economic development within the province of Ninawa, Iraq. TEDC encourages new and existing business by offering start-up business courses, delivering business improvement training, developing business plans and presenting computer and internet techniques. TEDC also offers consulting to private sector businesses. TEDC provides loan products to small-business manufactures, traders and service providers. TEDC was founded in 2007 and reported total assets of USD 4.8 million and a loan portfolio of USD 3.4 million as of 2008, according to the Microfinance Information Exchange.
About the United States Agency for International Development (USAID)-Tijara:
The United States Agency for International Development (USAID)-Tijara is an initiative to promote private sector growth and employment in Iraq by fostering the growth of micro-, small and medium-sized enterprises (MSMEs). It provides governance consulting, financial services, policy advocacy and technical services. The organization is listed on the Microfinance Information Exchange, but there is no financial data offered.
About the United States Agency for International Development (USAID):
The United States Agency for International Development (USAID) is a government agency that provides international economic and humanitarian assistance. It focuses on areas such as economic growth, agriculture and trade, global health, democracy, conflict prevention and humanitarian assistance. Under the Development Credit Authority (DCA), it provides partial credit guarantees that cover up to 50 percent of defaults on loans made by private financial institutions to institutions that lend to underserved borrowers.
Sources and Additional Resources:
“MFI TEDC Launches Innovative Agriculture Loan for Small-Scale Farmers in Ninawa, Iraq” July 28, 2010. http://www.imfi.org/?q=en/node/172
MICROCAPITAL BRIEF: “United States Agency for International Development (USAID)-Tijara’s Iraqi Youth Initiative to Provide $4.4m in Microfinance Loans, Opens First Office in Anbar” August 11, 2010. https://www.microcapital.org/microcapital-brief-united-states-agency-for-international-development-usaid-tijara%E2%80%99s-iraqi-youth-initiative-to-provide-4-4m-in-microfinance-loans-opens-first-office-in-anbar/
MICROCAPITAL BRIEF: “The United States Agency for International Development (USAID)-Tijara Commences ‘Provincial Economic Growth Program,’ Targeting Youth Employment in Iraq” July 12, 2010. https://www.microcapital.org/microcapital-brief-the-united-states-agency-for-international-development-usaid-tijara-commences-%e2%80%9cprovincial-economic-growth-program%e2%80%9d-targeting-youth-employment-in-iraq/
MICROCAPITAL BRIEF: “USAID-Tijara Announces Opening of Iraq’s 100th Microfinance Branch Location” June 9, 2010. https://www.microcapital.org/microcapital-brief-usaid-tijara-announces-opening-of-iraq%e2%80%99s-100th-microfinance-branch-location/
MICROCAPITAL BRIEF: “United States Agency for International Development (USAID) Budgets $4 m for USAID-Tijara Microfinance Program in Iraq” April 29, 2010. https://www.microcapital.org/microcapital-brief-united-states-agency-for-international-development-usaid-budgets-4-m-for-usaid-tijara-microfinance-program-in-iraq/
MicroCapital Universe: Tal’afar Economic Development Center: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Tal%27afar+Economic+Development+Center
MicroCapital Universe: The United States Agency for International Development (USAID)-Tijara: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=USAID-Tijara
MicroCapital Universe: The United States Agency for International Development (USAID): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=United+States+Agency+for+International+Development+%28USAID%29
Microfinance Information Exchange: Tal’afar Economic Development Center: http://www.mixmarket.org/node/24652/compare
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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