Reinforcing Med Microfinance Network System for Start-ups

Palestine National Mesures – Startup Palestine (2 tranches – third in process)

Startup Palestine (2 tranches – third in process)
Name of responsible organization: The Palestinian Fund for Employment and Social Protection  (PFESP) 
NATIONAL OR LOCALNational (Italian Development Cooperation  Fund through PFESP)
Starting year2016End year2024, 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 businessesYes
Strengthening of existing businessesYes
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 activitiesNo

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

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 50UnemployedDisadvantaged groups Youth (18-24)Other (specify)
New IdeasYesYesYesYesYes
SME/ Existing Businesses

Does the Project provide for accompaniment and training or only financial support?

Financial support + accompaniment/training
Only Financial supportYes

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-upsDuring the last three years, Asala granted $17,732,160 in total, $611,813 for start-ups
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