The SMED unit continued in the third quarter of 2020 the implementation of its activities in support to the local small and micro enterprises sector, whether by financing small and microfinance programs and institutions, or by providing grants, training and technical support. These activities for the period are summarized as follows:

I – Funding activities

1. Loan activities

 Due to the increasing demand by MF clients for loans, SFD has signed during the quarter a loan agreement with the National MF Foundation (NMF) for the amount of YR 670 millions, and another with Nama'a MF Foundation worth YR 200 millions.

 1. Funds and grants

Due to increasing demand by SME owners for financial services, and a shortage of funds to meet demand by microfinance institutions (MFIs), SMED has funded both Hadramout MF and Al-Ittihad MF programs and Nama MF Foundation for a total of YR 918,000,000 during the quarter.

 I - Financing activities

 1. Loan activities

During the quarter, SFD has granted loans to the National Microfinance Foundation (NMF) (YR 1.709 billions), Azal Islamic MF Program (YR 1.159 billions), Hadramout MF Program (YR 579 millions), and Nama’a MF Foundation (YR 574 millions). Accordingly, the total loan financing during the quarter amounted to YR 4.021 billions,

I. Financing activities (loans and grants)

 In the third quarter of 2019, the SFD signed several financing agreements with MF programs and institutions (MFIs) totaling YR1.1 billion. The National MF Foundation (NMF) received YR 300 million, and Azal and Hadhramaut MF Programs YR605.5 million and YR200 million respectively. The funds were meant to enable those entities to continue financing the projects of their clients in the various governorates of Yemen.

I. The internal activities carried out by the SMED Unit 

1- Funding activities

 As a result of the increasing demand for financial services by owners of small and micro projects, and in order to ensure the continuity of funding activities, during the first quarter SMED has funded programs and institutions with an amount of YR 2.72 billions in loans.