United States Agency for International Development “USAID” , Cairo Office, Egypt.
The project aims at developing and promoting existing small and micro enterprises, to raise the income of SMEs, help the transformation of SMEs from informal to formal sector and contribute to solving the radical and chronic unemployment problem.
The programme endeavors to achieve these objectives through the following activities:
Provision of credit, training and technical assistance to SMEs in Alexandria , Kafr El-Sheikh and other potential provinces in Egypt.
Provision of short-term loans for working capital initially and later move to longer term fixed asset leading to its sustainability.
Using local banks to handle operations related to loans and payments.
Ensuring an appropriate private sector management concept for the program to meet requirements and solve problems.
Management of the program in a way that could ensure self-sufficiency.
Ensuring appropriate commercial interest rates to be charged to the borrowers.
Ensuring the right size of loan for the suitable type of business to be disbursed at the appropriate time.
Encouraging the reliable, creditable and sustainable enterprises to deal with formal banks when their financial requirements exceed the limits ofthe programme.
The beneficiaries of the project include the following:
Micro-enterprise Program directed to serve the Females Headed Households (FHH) Group leading approach.
Towards Self-Employment Program (TSEP), which is a fully charitable programme funded by the members of the association and managed voluntarily by the project staff. The Programme provides non-refundable grants to the very poor females and young unemployed people to help them to start micro-business of their own ideas integration.
The Arab Gulf Programme for Development (AGFUND) invites the United Nations, international and regional organizations, ministries and public institutions, national Non-governmental organizations and individuals worldwide to submit nominations as deemed eligible for the 2017 AGFUND International Prize for Pioneering Human Development Projects. Eligible projects are those implemented in the developing countries to best contribute to the achievement of one or more of the targets of the fourth of the Sustainable Development Goals 2030 “Ensure inclusive and quality education and promote lifelong learning for all“. The deadline for receiving nominations is 30 September 2017.