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The main objective of the
Micro-finance Credit and Services to Needy Citizens of Bahrain
Project is to create an enhanced environment for equitable, job
creation and sustainable economic growth. To expand upon the number
of beneficiaries who benefited under the UNDP Microstart project
initiated in 1999 and to achieve a significant impact on reducing
unemployment in Bahrain, activities will focuson the following:
developing microfinance capacity in local NGOs; adopting a more
pro-growth oriented, employment generation approach to poverty
reduction by promoting micro entrepreneurship in the country; and
targeting a larger proportion of the loans provided towards
unemployed youth and women. The project will be executed through a
“National Execution” modality in which the Ministry of Social
Development will be the implementer. Sustainability of the scheme
and national capacity development are key objectives of this
project. |
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Expected
Results: |
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i. |
Steering Committee for
Micro Finance. |
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ii. |
Review and amend the
structure, working arrangements and membership of the Steering
Committee for Micro Finance. |
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a |
Conduct a workshop of
the revised Steering Committee to outline its functions and
discuss and identify training needs. |
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b |
Identifying and hiring
one national Project Director to assist the Steering Committee
in developing the work plans. |
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c |
Steering Committee
agrees on Action Plan. |
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iii. |
Identify the
International Technical Service Provider (ITSP) to develop the 3
year work plan with intended outputs and corresponding budget |
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iv. |
Identify three
additional NGOs with potential and capacity to become
operationally sustainable |
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a |
Hold workshop with
participating NGOs to discuss conditions of participation and
provide support in setting targets and performance indicators to
be achieved by the end of each year. |
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b |
Contracts to be signed
by participating NGOs and UNDP for review and approval by the
Steering Committee. |
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c |
Training workshops on
micro-finance best practices, management of credit and savings,
accounting, reporting, auditing, etc for participating NGOs. |
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V |
Monitoring field visit. |
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VI |
Workshop for the
Steering Committee by international technical service provider
on the progress of change in loan portfolio, through increased
institutional capacity (hiring additional credit officers,
increasing skills of existing staff, improving management
system). |
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VII |
Introduction of income
earning activities and implementation. |
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a |
Identify youth and women
as potential clients that may benefit from income generating
opportunities |
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b |
Workshop and media
events to encourage young clients and women to participate in
income generating activities and encourage them to create their
income generating ideas. |
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c |
Organize workshop on
skills training and access to resources for small business
development for youth and women. |
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d |
Provision of
MicroFinance credit and support services to needy citizens,
quality management, and reporting. |
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Financial Summary: |
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Total Budget: USD
368,740.00
(Government:
USD 368,740)
Delivery in 2008:
USD 24,000
Delivery in 2009:
USD 299,298.01
Delivery in 2010:
USD
70,000.00 |
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Outputs and
Achievements: |
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2009: |
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i. |
The Project has
disbursed US$ 100,000 to two NGOs/ MFIs (Awal Women’s Society
and Children & Mother’s Welfare Society) US$ 50,000 each, and
the NGOs/MFIs have already disbursed most of the loan amount to
beneficiaries. The second tranche of the grant, as per the
signed grant agreement, is due to be paid in December 2009 to
the 2 MFIs, pending the assessment of their performance by a
Microfinance Consultant. |
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ii. |
The Project is also
embarking on conducting skills development trainings on
micro-enterprise development for selected beneficiaries of
Microfinance programmes. |
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iii. |
The Project recruited
two staff (Assistant Project Manager & a Technical Support) to
provide all the necessary support to the Project and its
partners (NGOs). |
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iv. |
A firm has been selected to conduct a Market Survey to estimate
the demand of Microfinance in the Kingdom of Bahrain. The
Project has also enlisted a number of capacity building
activities for the project partners (NGOs) which will be
implemented over the course of the coming months. |
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2010: |
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i. |
Six new NGOs have been
selected to participate in the Project |
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ii. |
A Market Survey is
currently being conducted to gauge the demand, scope and
diversity of microfinance in Bahrain |
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iii. |
Capacity building
programs, training sessions, and workshops have been delivered
for NGOs/MFIs |
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Downloads: |
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Project Document