EC Funds SFD Project [Archives:1998/29/Local News]

July 20 1998

Mr. Manuel Manir, Vice President of the European Commission, has signed a 15-million ECU financing agreement for the ‘Social Fund for Development’ project in Yemen.
In order to alleviate the already visible adverse effects of the economic reform program, the Yemeni government, with the help of the EC and other donors, conceived the idea to establish the Social Fund for Development (SFD). The SFD focuses on capacity building, community development and small and micro enterprise development.
The project will will build and develop the capacity of NGOs, cooperatives, and other community-based organizations as well as financial intermediaries.