Micro-credit For Youth
in Beni Suef Governorate
Timeframe:
June 2003 – May 2005 extended to March 2006
Project Context:
More than 500,000 new graduates enter the labor market in Egypt every year. Training new graduates to start their own businesses is an effective way to fight unemployment and to create new economic opportunities.
Objectives:
The objectives is to establish new micro-credit units in three Community Development Associations (CDAs) in the Beni Suef governorate. In addition to training the unit staff (some 12-15 individuals), the project would train 300 new graduates on the Start Your Own Business program. Half of these graduates will be employed in established local business entities, while the remaining 150 are expected to set up their own businesses. These will receive financial support through loans provided by the newly established micro-credit units in the CDAs (90), or through other identified local funding sources in the governorate (60).
Partners:
Institute of Cultural Affairs-Middle East and North Africa (ICA-MENA) , the regional representative of a worldwide private non-profit organization, focusing on human development. It has a longstanding experience in various governorates throughout Egypt and has conducted, over the last 25 years, several projects in the governorate of Beni Suef. ICA is responsible for implementing the project, training the staff of the three micro-credit units, training the recipients of the loans, delivering the employment component, as well as coordinating action across partners.
Local funding sources in the governorate, these are the Banque du Caire, the Regional Enterprise Development Center, and the local Development Fund of the governorate. They will be providing loans for 60 graduates in the framework of this project.
Project Status:
The three micro-credit units have been established in the Community Development Associations (CDAs). 300 youth have completed their SYB training, 226 of which have completed on-the-job training and 87 were employed in different fields including sewing, welding and carpet weaving. The project has been extended for 9 months in response to market needs and to ensure the quality of training.