The SRTF’s Revolving Credit Fund in Northeast Syria Starts the Registration Process for Innovation Loans

Ar-Raqqa – Sunday, November 12, 2023 – The SRTF announced the start of the registration process for innovation loans under its intervention, “Revolving Credit Fund (RCF) Phase III: Strengthening Agricultural Resilience and Incomes”, in Ar-Raqqa, Northeast Syria.

In addition to the agriculture loans that are already being disbursed under this phase of this intervention, the innovation loans aim to support creative solutions at the water-energy-food nexus, to enable efficient irrigation, renewable energy systems, greenhouses, cold storage and solar water pumps for example. The results of the two loans combined will fill the gaps in the agricultural ecosystem, improving the prosperity and resilience of producers and value chain actors in Ar-Raqqa.

Following the applicants’ registration, outreach verification visits will commence whereby 22 value chain actors will be identified in an in-depth assessment to determine applicants’ eligibility to receive the loans. This will be established depending on the results of Credit Report whereby the RCF field team will verify applicant’s identity, contact details, reputation, ability to endure such a financial responsibility, ability to pay the loan back, their business skills, amongst other qualities.

Building on the first two phases, this phase of the intervention will apply market-based approaches combined with technical and financial assistance, which would help eligible borrowers to reduce barriers to production, increase growth and income generation, increase resilience during climate shocks, as well as support recovery and economic resilience.

With a budget of EUR 5 million, this intervention will directly benefit 800 agriculture producers and/or agribusiness entrepreneurs, as well as 22 value chain actors, across 15 communities across Ar-Raqqa, over a lifecycle of 20 months (including two months for inception and six months for post-implementation monitoring and evaluation). Individuals residing within those communities will indirectly benefit as agricultural value chains are improved and funds are revolved.

For more information on this intervention, visit:

Revolving Credit Fund Phase III: Strengthening Agricultural Resilience and Incomes

For more information on the SRTF visit:

http://www.srtfund.org

Media outlets may contact:

communications@srtfund.org