DAMAN for SME’s is a non-profit company for the Credit Guarantee Scheme registered in Ramallah in the Palestinian Territories under the Palestinian law.
DAMAN for SME’s is a non-profit company for the Credit Guarantee Scheme. It is a partnership between the Arab Center for Agricultural Development (ACAD), the Palestinian Business women’s Association (ASALA), International Solidarity for Development and Investment (SIDI)- France. New Vision Consultancy acts as the management wing for the company.
DAMAN for SME’s is a financial compensation tool for vulnerable persons and groups such as women, youth, small and micro entrepreneurs directly affected by policies imposed by the illegal occupation. DAMAN will focus on those residing in areas affected by the separation wall in the West Bank, East Jerusalem and Gaza. DAMAN for SME’s will maintain the political risk scheme initiated in 2008, and expand it to encompass occurrences of damages endured by borrowers as a result of the Israeli occupation of the Palestinian territories, expanding its outreach in West Bank , Gaza Strip and to also include coverage to those entrepreneurs residing in East Jerusalem.
The concept note for DAMAN ( Download File )
DAMAN for SME’s is a Palestinian non- profit company established as a development tool to create economic empowerment and to provide financial compensation for vulnerable persons and groups such as women, youth, small and micro entrepreneurs directly affected by acts and policies imposed by the Israeli illegal occupation in the Palestinian Territories. DAMAN for SME’s will boost the Micro finance industry by providing services that covers the micro finance industry in Jerusalem, West Bank and Gaza to enable the MFI’s to provide loans to vulnerable people and to target high political risk areas such as nearby settlements, areas behind separation wall and Gaza Strip.
-Micro entrepreneurs, women & men (including farmers).
-Producers in all fields of productions as individual borrowers in all areas of Gaza Strip, East Jerusalem and West Bank.
-DAMAN will also emphasize supporting the development of micro-enterprises, small businesses, crafts, trades, services which have potential of generating enough profit for the end-user as not to limit his/ her ability to repay the loan.
-Maximum loan amount to be covered by the scheme is ($5000 loan Maximum) five thousand US dollars and maximum coverage of the outstanding balance per one loan is $ 3000 US dollars (DAMAN will not compensate interest or fees on loans).
-To encourage investment in areas affected highly by the occupation (small and micro income generating projects)
-Improve living conditions of the poor families .
-Job-creation , through self-employment especially in rural and remote areas
-Guarantee some of the Political risks vulnerable clients face