The Solidarity Financing Program works to reduce poverty and unemployment by providing financial and non-financial services aimed at achieving comprehensive economic development in urban and rural communities in the Republic of Yemen. The program is expanding its geographical reach, hoping to reach a larger percentage of its target groups.
The program offers many financing programs, such as: real estate financing, and consumer financing (for the purpose of purchasing cars or homes), but what concerns us here is:
First: The Small and Medium Enterprise (SME) Product
This product is divided into two sub-products:
(1) Tamkeen:
This product is designed to establish small and medium-sized enterprises using the economic empowerment approach, with a financing ceiling of up to 10 million riyals.
(2) Riyada Tadamoun:
This product is granted to young entrepreneurs with start-up projects. Its financing ceiling is up to 2.5 million riyals.
Second: Production Product
This product includes a package of products, namely:
(1) Seasonal:
This product is designed for seasonal activities in the commercial, agricultural, livestock, and fisheries sectors. Its financing ceiling is up to 800,000 riyals.
(2) Riyada:
This product targets service and industrial projects. This product is designed for young entrepreneurs with start-up projects, with a financing ceiling of up to 2.5 million riyals.
(3) Bidaya:
This product is designed for women’s groups (3-5 members). The purpose of this product is to finance women’s income-generating activities, such as incense making, hairdressing, food, and others. The financing ceiling here is up to 500,000 riyals.
(4) Sustainability:
The purpose of this product is to finance working capital in the service and economic sectors, with a financing ceiling of up to 2.5 million riyals.
