Hand in Hand to build a New Future - Egyptian Association for Comprehensive Development
Egyptian Association for Comprehensive Development.
El Marg, Cairo Governorate.
18 months as of July 1, 2012.
The project aims to create jobs to improve the economic and social levels for 975 beneficiaries of marginalized groups of men and women heads of households in EL-Marg area through vocational and management training, and providing small loans to the beneficiaries to promote self-employment.
LE 1.017 million, (about 76% of the project total budget of (LE 1.327.500), broken down to:
LE 367,000 to cover the expenses of training and employment.
LE 650,000 for microcredit loans, (repayable within a period equal to the duration of the project and on three equal installments, the first installment is repayable after 6 months of the end of the project).
The AECD contribution: LE 310.500, which equals 23.% Of the total budget.
The project aims to improve the living conditions for the most disadvantaged members of the community in El-Marg – particularly women and young people – by funding income generating activities to start micro-enterprises or expand existing small businesses.
As such, microcredit projects result in job creation at a relatively low cost. The loans are accompanied by training in business management, project feasibility studies and marketing skills to help beneficiaries learn how to run enterprises along sound business lines.
The SFSD-funded project will help 975 beneficiaries as follows:
- Provide vocational training for 150 beneficiaries on some trades required in the labor market (such as sewing, hairdressing, detergent industry, and maintenance and installation of satellite dishes.
- Provide management training for 400 beneficiaries, of whom 150 beneficiaries have already received vocational training, to enable them to manage their projects successfully. The focus of this type of training includes marketing procedures and feasibility study for small projects.
- Provide micro-loans for 400 beneficiaries, the graduates of the project’s vocational and management training courses, to enable them start their new businesses.
In addition, the project will give 575 entrepreneurs micro loans to expand their existing small businesses, bringing the total number of loans issued to 975 new loans.