providing micro finance for and women entrepreneurs
Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.
Hussam
Barznji
KEDO
kwrdistan economic development organization (KEDO)
land: 009647480138110 mobile: 009647701462621
suleimaniya – street –zerenok, iraq, Kurdistan region
Non-profit/NGO/Citizen-sector Organization
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Kurdistan region
Middle East and North Africa.
$1-5 Million.
More than 150.
more than 1000
5,000,000 USD
Operating for more than 5 years
Our proposed innovation aiming develops and support SME or entrepreneurs by prepared draft of law (prepared by our organization KEDO supported by CIPE )
Which submitted to Regional Parliament ( Iraqi Kurdistan Region ) on15th February 2010 after 2 meetings for discussion about mentioned draft, now we are attempting for influencing on decision makers,( parliament members) for final decision through advocacy campaign by forming committee from representatives of business association, universities, civil societies , media,..etc.., the draft is contain several articles about providing appropriate finance for SME,by government and private resources with registration through one stop shop ( cause now we have 9 departments for registering SME ) , current finance system is inappropriate ( included large numbers of barriers ) in public and private banks for example high percentage of interests, difficult and heavy collateral, the process needs big numbers of signatures and public departments . our innovate will lead to create appropriate private and public finance system for SME,
Asymmetry of information, Informality, Lack of collateral.
We can find in our Region Most of barriers indicated above, about asymmetry of information, we suggested in the draft of law establishing sector in SME foundation for information and statistic
data About SME in the Region
-for barrier lack of collateral we suggested facilitating in guaranty for SME finance, through government facilitation or guaranty companies, in our loan project (our organization) we lending
2500$ for each entrepreneurs with guaranty of two officials ,other most of barriers solved in our draft of law
we have conducted 24 entrepreneurship workshop trainings for 712 youth women in 4 governorates
%25 of participants now they have own business
- preparation draft of law for supporting entrepreneurs for solving most their problems, submitted
- to Regional parliament on15th February 2010,now we wait final decision
- providing loan for more than 200 entrepreneurs
- conducting 4 researches about SME and entrepreneurship
- as impact of all attempts government is planning for providing loan for small business
we are expect providing support for 300 firms
The volume between 10000$ to 50000$
Time frame will be 1year to 2years and continuing for 5 years depend on loan recycling will possible To provide support for more firms
Yes
*If regional parliament refused our draft of law ( for supporting entrepreneurs it bad effecting on part of our solution
*if our capital remain with out expanding or increasing we can not provide finance for more entrepreneurs
*if government do not respond to economic reform attempts
Funding resources as below :-
- government
- our organization (KEDO)
- international banks , if our request approved by G-20 and Asoka's change makes
- entrepreneurs or private sector
It need increase our financing project for SME
• through international resources
• growing private fund for SME finance
• contribution fund from private sector
• we need 5 years to graduate from dependence on public finance
More focusing on small business
* searching for other possible fund , for example public fund
Partnership with private sector , media , universities, civil societies , government
Inappropriate economic policies from government
Our solution is aiming develop SME as quantity and quality it lead to growth sector