| Startup Palestine (2 tranches – third in process) | |||
| Name of responsible organization: The Palestinian Fund for Employment and Social Protection (PFESP) | |||
| Website: https://asala.ps/ | |||
| NATIONAL OR LOCAL | National (Italian Development Cooperation Fund through PFESP) | ||
| Starting year | 2016 | End year | 2024, 3rd phase in 2029 |
| These projects aimed to expand the operational capacity of Micro, small and medium enterprises to stimulate employment opportunities. Asala granted a low-interest loan to end beneficiaries of existing MSMEs and new start-ups initiated by young and women entrepreneurs. |
What kind of activity does this Project finance?
| Creation of new businesses | Yes |
| Strengthening of existing businesses | Yes |
| Specific investments – specify the type (i.e. innovation, research, environmental transition, hiring, internationalization, purchase of goods), | Financing Working capital and Investment requirements for the clients 70% women, 20% new businesses, 40% Gaza Strip, all types of productive sectors |
| Training activities | No |
What type of financing is it?
| Low-interest loan (indicate the repayment time and, if present, the requirement for collateral) | Yes, low interest loans for 6 years repayment time. No collateral |
| Non-repayable grant (indicate the percentage of the non-repayable fund) | No |
| Other | No |
How does the activation of the project work?
| One-stop-shop (physical or virtual), where the potential beneficiary can go whenever he/she wants. | Yes |
| Call with closing date |
Financial entity of the Project (indicate the resources allocated)
| Overall amount | $3,281,500 |
| % facilitation for each beneficiary | Up to 100% |
| Minimum amount that can be financed | $4,000 |
| Maximum amount that can be financed | $40,000 |
| Origin of financial resources (European, State, Regional Authority, Municipal authority, other) | Italian |
Type of funded social structure (indicate if belonging to a specific category is required in order to access the Project)
| Female (MUST) | Over 50 | Unemployed | Disadvantaged groups | Youth (18-24) | Other (specify) | |
| New Ideas | Yes | Yes | Yes | Yes | Yes | |
| SME/ Existing Businesses |
Does the Project provide for accompaniment and training or only financial support?
| Financial support + accompaniment/training | |
| Only Financial support | Yes |
How many initiatives have been financed in the last 3 years and for what economic amount?
| Number of initiatives Total granted loans through the project reached 294 loans, 16 of which are start-ups | Total economic amount The total amount granted through the project reached $3,281,500, which $162,000 for start-ups |
| During the last three years Asala granted 2475 loans, 126 of which are for start-ups | During the last three years, Asala granted $17,732,160 in total, $611,813 for start-ups |
