Yemen | Themar - Approach for Development Finance Enhancement
The overall objective of Themar is to help transition Yemen to a non-oil economy through the creation of an environment conducive to private sector development and job creation, which could eventually lead to poverty reduction.
Themar aims to support the development of inclusive financial systems targeted at micro, small, and medium enterprises (MSMEs). The project will work with Yemeni financial services providers (FSPs) and key facilitating partners (KFPs) aiming to increase the availability and effectiveness of financial products and services, to better meet the financial needs of MSMEs. Structurally, a fund and a technical assistance component will be established. Under the fund, Themar will disburse on-lending funds to FSPs working with MSMEs. Themar will also establish non-financial services linkages with MSMEs, as, in private sector development, access to non-financial services are as important as the access to financial services.
Ultimately, it is hoped that this intervention will lead to long-lasting impact and sustainable results. After the project has finished, the fund component would be transitioned to a local FSP. On the whole, the project aims to strengthen capacity of the local institutions by transfer of knowledge.
Project Quick Facts
Goal – To help transition Yemen to a non-oil economy through the creation of an environment conducive to private sector development and job creation, which could eventually lead to poverty reduction.
Reaching – 5,000
Funding – European Commission
Duration– Nov 2013 - July 2019
Tags: West Africa / MENA