The SRTF’s Revolving Credit Fund in Northeast Syria Commences Outreach Verification Visits to Applicants

Ar-Raqqa – Wednesday, 9 August 2023 – The SRTF announced the commencement of outreach verification visits to loan applicants under its intervention, “Revolving Credit Fund Phase III: Strengthening Agricultural Resilience and Incomes”, in Ar-Raqqa, Northeast Syria.

This comes following the loan registration process that took place a month earlier. Through these visits, 800 agricultural producers and/or agribusiness entrepreneurs as well as 22 value chain actors in 15 communities, will be identified following an in-depth assessment to determine their eligibility to receive the loans.

During these visits, applicants will complete an application form while the RCF field team will complete a Credit Report to verify applicants’ identity, address, reputation within the community, their awareness and ability to take on such a financial responsibility, business management skills, and so on.

This intervention will incorporate market-based approaches with a combination of technical and financial assistance, within its implementation, to aid loan borrowers in reducing barriers to production, increasing growth and resilience in times of climate shocks, increasing income generation, as well as supporting these borrowers in climate and economic resilience and recovery.

Two types of loans are provided under this intervention; the first aims to enable producers and agribusiness entrepreneurs to access high-quality inputs, aid borrowers in adopting innovative technologies to fill gaps within the agricultural ecosystem, and the second aims to support creative solutions for water-energy-food connections, including effective irrigation, renewable energy systems and solar water pumps, for example. This is expected to result in improved resilience and prosperity for producers and value chain actors in Ar-Raqqa.

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, in 15 communities across Ar-Raqqa, over a lifecycle of 20 months, which include two months as the inception phase and six months for post-implementation monitoring and evaluation. Many more individuals will benefit in targeted communities as agricultural value chains are strengthened and loan 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