Kiva Arab Youth
Started in March 2012, Kiva Arab Youth is a partnership between Silatech and Kiva, the world's largest microlending platform which allows visitors to make direct, online loans of as little as $25 to young Arabs of their choice who are either starting a new business or seeking to expand an existing one. As of March 2014, Kiva Arab Youth had mobilized over 150,000 individuals who collectively have lent more than $6.7 million to fund 5,000 young Arab entrepreneurs through MFI field partners in six countries (Lebanon, Palestine, Iraq, Jordan, Yemen and Somalia, the latter two having been brokered by Silatech).
When launched, “Narwi” will be the first online Micro-Endowment (or Waqf) platform. It will allow users to create a personal Endowment that they can contribute toward financing the young Arab micro-entrepreneur of their choice. Our mission is to connect these young micro-entrepreneurs with capital and knowledge, mobilized through the crowd, which enables them to grow sustainable businesses and create jobs for others. These endowments are reimbursed into the users’ account as the micro-entrepreneur makes their repayments, so that contributions move on to support others as well. Narwi will be implemented with a network of international and regional partners; it follows Silatech's successful partnership with Kiva in implementing "Kiva Arab Youth."
Technical Assistance to Ibdaa Microfinance
Silatech is providing technical assistance and financial support to Ibdaa’s youth startup product (Mashroui), in addition to a standard youth loan product targeting existing businesses (Shabab).