The SRTF announced the successful completion of the loan disbursement process under its Livelihoods project; “Establishment of Revolving Fund to Support Livelihoods Recovery in Northern Aleppo – Phase I”.

Under this project, 725 entrepreneurs have received loans, of whom 580 received micro-loans ($400-$1,200) to build new micro-businesses and 145 received development loans ($1,201 – $3,000) to improve their small businesses. Additionally, 51 borrowers paid their first loan instalment by end of December 2022.

Furthermore, non-financial services, mainly coaching, have also started being provided to the borrowers at four centres. These services include tailored and sequenced training sessions on topics such as business development, life skills and financial literacy, as well as demand-driven coaching and mentoring on topics such as marketing and market access.

This project aims to support entrepreneurs, 30% of whom are women and over 20% youth, with high-growth potential livelihoods services, including financial and non-financial products and services, to accelerate the growth of these entrepreneurs’ small and micro-enterprises. This also aims to serve urban and rural communities across Aleppo, on a larger scale.

The project has a budget of EUR 1.8 million and is expected to benefit 725 entrepreneurs and their families directly, across six communities. It will also benefit many others within the entrepreneurs’ communities as the funds revolve and additional contributions from other sources are made to the fund. This will take place over 14 months, including a two-month inception phase and post-disbursement progressive monitoring.

Source: Syria Recovery Trust Fund