The SRTF’s Revolving Credit Fund Commences Outreach Verification Visits for Innovation Loans in Northeast Syria

Ar-Raqqa – Wednesday, 20 December 2023 – The SRTF announced the start of outreach verification visits for innovation loans under its intervention, “Revolving Credit Fund (RCF) Phase III: Strengthening Agricultural Resilience and Incomes”, in Ar-Raqqa, Northeast Syria.

This follows the applicants’ successful registration process and will allow for identifying 22 value-chain actors eligible to receive the loans. Borrowers’ eligibility will be determined based on the results of a Credit Report, which will verify their identity, contact details, reputation, ability to take on financial responsibilities, ability to pay the loan back, business skills, and their business models.

Such loans aim to support creative solutions at the water-energy-food nexus to enable aspects including efficient irrigation, renewable energy systems, greenhouses, cold storage and solar water pumps. These, combined with the agricultural loans, also disbursed under this intervention, will fill the gaps in the agricultural ecosystem, thereby allowing producers and value chain actors in the area to enhance their prosperity and resilience.

This would enable eligible borrowers to reduce barriers to production, increase growth and income generation, increase resilience during climate shocks, and support recovery and economic resilience as market-based approaches are applied with technical and financial assistance.

This intervention has a budget of EUR 5 million and is expected to directly benefit 800 agriculture producers and/or agribusiness entrepreneurs, as well as 22 value chain actors, across 15 communities across Ar-Raqqa, over its duration of 20 months, which includes two months for inception and six months for post-implementation monitoring and evaluation. Community members will also indirectly benefit as funds revolve, and agricultural value chains improve.

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