Provision of Sustainable Micro-Finance Credit and Services to Needy Citizens of the Kingdom of Bahrain

Summary

 Secretary General visits the Capital Center, where some local products supported by Microfinance are axhibited

This Project expands upon the number of beneficiaries who benefited under the earlier project (Microstart) in order to achieve a significant impact on reducing unemployment and poverty in Bahrain. It focuses on developing microfinance capacity of local NGOs by adopting a more pro-growth oriented microfinance approach, employment generation modality by promoting micro entrepreneurship targeting a larger proportion of the loans provided towards unemployed youth and women. The project also links various stakeholders operating the microfinance sector to develop a National Microfinance Strategy, which maps out the current demand for and supply of microfinance in the Kingdom and identifies key impediments and opportunities for economic growth

Key Achievement

 Microfinance BenificiaryA Microfinance supported woman stands independently selling her products
  • A Performance Update and Quick Assessment Report were conducted to determine MFI’s capacity-development training needs and their targets.
  • Workshops on Microfinance were conducted for new NGOs to familiarize them with microfinance and how the Project can support them.
  • Six NGOs were selected to function as professional MFIs NGO selection criteria and a process for new NGOs selection have been developed, as well as a guide for developing business plans.
  • The Project has disbursed US$ 200,000 to two NGOs/ MFIs as grants.
  • Skills development trainings on micro-enterprise development for selected beneficiaries of Microfinance programmes have been conducted.
  • A Market Survey was completed to determine the demand of Microfinance in the Kingdom of Bahrain.
  • A six-month training plan had been conducted  to  increase the capacities of existing MFI/s, new MFIs and concerned staff at the Ministry of Social Development.
  • A refreshing training course on Microfinance best practices was conducted for the new NGOs
  • Training of Trainers course had been conducted to the old and new NGOs and representative from the Central Bank of Bahrain and the Family Bank
  • On-site technical assistance to the Family Bank had been provided to determine capacity gaps, review products range offered and suggest enhancements, and provide technical advise to the bank
  • Comprehensive Credit Manual and Operation Manual were developed to be used as a guideline for the new NGOs
  • A concept paper on needed Non-financial Business Development Services (NFBDS) was developed to provide relevant analysis and recommendations to be carried forward in the future
  • Technical assistance to the CBB had been provided in reviewing the CBB’s Rule Book for conformity with the specific needs of the microfinance industry and a round-table discussion conducted to discuss questions of the CBB staff on various aspects of microfinance

Resource of fund



Ministry of Social Development US $ 184,370
UNDP US $ 380,910  
Ahli United Bank US $ 165,000  

Delivery

2011
US $ 84,905.48
2012
US $ 241,889.18

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