Small Enterprises holds event in Sana’a [Archives:2004/768/Local News]

August 30 2004

Over the 21st- 25th August, the Social Fund for Development sponsored an event for Small Enterprises to introduce a program for funding small and start-up businesses. The project is designed to aid the provision of loans to people who are not currently capable of benefiting from the traditional credit sector.
The project aims at introducing different funding programs in various areas in the country and to assess which scheme offers the greatest benefits. Further, it is intended to encourage the initiation and development of projects by availing opportunities for comparing the experiences and lessons of successful projects.
Symposiums and discussion seminars took place on the role of small-scale loans in the growth of the private sector. This in turn should help resolve the wide problem of unemployment and aid economic growth.
The event was organized by Small and Micro Enterprise Unit of the Social Fund for Development which is established by Law No. (10) FY 1997. The aim of the unit is coordinating the resources available to the SFD and to lessen the side effects of the economical reform program. The fund has already and is executing several projects in the health, education, transportation, and local community development as well as credit facilities for small enterprises.