Galilee loan guarantee programme
The Portland Trust partnered with the Koret Israel Economic
Development Fund (KIEDF) and the United Jewish Israel
Appeal (UJIA) in a three-year initiative, starting in 2006,
to establish a loan guarantee programme for Northern Israel. The aim was to
facilitate economic development and job creation. Small businesses and micro-enterprises lacking access to credit on reasonable terms were the target of the programme.
In
July 2007, Eival Gilady became the Chair of KIEDF. The Portland Trust contributed $500,000 to this programme
which has since attracted significant additional funding. Over the three-year period 610 loans were made, totalling $15m (NIS 57m).
Approximately 3,200 jobs were created across a range of
sectors including tourism and manufacturing.
By March 2009, 610 loans had been made
totalling $15 million/ NIS 57 million. For a full report on the scheme please click here.
For more information on the Koret Israel Economic Development Funds (KIEDF), please visit their website or see their latest video on YouTube.
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