providing micro finance for and women entrepreneurs

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providing micro finance for and women entrepreneurs

Iraq
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

our solution is focusing on enable youth and women for creating (sme) as entrepreneurs، cause our social culture is focusing on government employments، people prefer government employment insteal private sector or entrepreneurship ، the out comes of this culture ore number of government employees 1.200.000 it mean more the %30of region population.

About Project

Solution: What is the proposed solution? Please be specific!

That is first time an organization is working for developing entrepreneurship in our region also in whole iraq cause former government befor 2003 focused on public sector and it was centeralized system in controlling economic ، education ، admin، political situation ، which bad affected on private sector ، become weak ، the social cututre focused on public sector youth and most of people preferd public sector for employment ، below problems facing youth and entrepreneurs 1- lack resources for providing appropriate capital for starting new ( SME) 2-lack skills 3-lack entrepreneurship culture 4-lack foundation or organization for supporting entrepreneurs 5-lack relation between universities and market 6-lack appropriate infrstracture 7-registring (SME) by (9) departments 8-weak facilitation for entrepreneurs from government 9-family and all stages of school studies focusing on public sector finding appropriate solution ، our organization started several activities from 2005 as below 1- conducted 24 training workshops for 712 youth in 4 governorates 2-organized 6 conferences 3-emplemented 4 researches 4-prepared draft of low for supporting entrepreneurs entrepreneurs and ( SME)
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

The social impacts of our innovation are reducing unemployment، reducing poverty ، it lead to reducing crimes ، divorcees, suicides ، improving social situation and relation also entrepreneurs become more confidences (self trust) ، independent ، more capable for deciding ,planning, managing , solving problems , more creating and innovating.
About You
Organization:
kwrdistan economic development organization (KEDO)
About You
First Name

Hussam

Last Name

Barznji

Website
Your Organization

KEDO

Country
About Your Organization
Organization Name

kwrdistan economic development organization (KEDO)

Organization Phone

land: 009647480138110 mobile: 009647701462621

Organization Address

suleimaniya – street –zerenok, iraq, Kurdistan region

Organization Country
Organization Type

Non-profit/NGO/Citizen-sector Organization

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Your solution
Country your work focuses on
If multiple countries, please list them here. If your solution targets an entire region, please select it below

Kurdistan region

Region(s) your solution focuses on:

Middle East and North Africa.

Range of turnover in your target firms, in USD

$1-5 Million.

Average turnover in USD of your target firm
Number of employees in your target firms

More than 150.

Average number of employees of your target firm

more than 1000

Specify the size, average and range of expected loans or investments in each target firm

5,000,000 USD

What stage is your solution in?

Operating for more than 5 years

Innovation
How does your proposed innovation leverage public intervention in catalyzing private SME finance?

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,

What barriers does your proposed solution address?

Asymmetry of information, Informality, Lack of collateral.

If you checked any of these barriers, describe how your solution addresses them

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

Impact
Provide empirical evidence of your proposed solution's success/impact at present. If your project is in the idea phase, please provide evidence that speaks to its potential impact

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

How many firms do you expect to reach?

we are expect providing support for 300 firms

What is the volume of private SME finance you aim to catalyze?

The volume between 10000$ to 50000$

What time frame will be required to reach these targets?

Time frame will be 1year to 2years and continuing for 5 years depend on loan recycling will possible To provide support for more firms

Does your solution seek to have an impact on public policy?

Yes

What would prevent your solution from being a success?

*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

Sustainability
List all the funding sources that are required for the sustainability of this solution

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

Demonstrate how your proposed solution has the capacity to graduate from dependence on public finance. What is the time frame?

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

Demonstrate how your proposed solution will survive a potential loss of its largest private funding source

More focusing on small business
* searching for other possible fund , for example public fund

Please tell us what kind of partnerships, if any, could be critical to the greater success and sustainability of your innovation

Partnership with private sector , media , universities, civil societies , government

Are there non-financial issues that could threaten the sustainability of your proposed solution?

Inappropriate economic policies from government

Please tell us if your proposed solution aims to scale up through a high growth sector, expand immediately to multiple sectors, and/or scale up geographically

Our solution is aiming develop SME as quantity and quality it lead to growth sector