KIEDF: Koret Israel Economic Funds

KIEDF: Koret Israel Economic Funds

KIEDF demonstrates that deploying philanthropy efficiently and effectively can stimulate private sector economic expansion and create employment opportunity in Israel and that small and micro lending is a small risk. For many years, limited financing options, stringent bank credit policies and ineffective government programs have inhibited small and micro business expansion in Israel. KIEDF offers philanthropists a unique combination: leveraging contributions as if investing in their own business, helping people help themselves achieve self-sufficiency and personal dignity, and contributing to a stronger private sector economy in Israel. While KIEDF continues to manage innovative programs, it also advocates reforms necessary to assist the system to run more effectively.

Sawa (together): The economic structure and credit monopoly in Israel limits severely opportunities for people living in poverty to improve their economic situation through gainful employment. For many thousands, independent income generating activity is the only way for them and dependents to escape the poverty cycle. KIEDF microfinance services provide needed credit and ongoing technical services - the ONLY such national programs in Israel. This program was developed working with Bedouin women of the Negev, using the group solidarity model invented by Prof. Yunus from Bangladesh. After overwhelming success, the program was expanded to Arab Israeli women in northern Israel and is currently being expanded into central Israel. In 2011 KIEDF entered into a partnership with the Israeli government, for matching support to the microfinance program for Arab Israeli women.

 

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