皇冠体育app

Businesses across the Middle East and North Africa will get a 拢4.5 million boost from the UK, Prime Minister David Cameron announced at the World Islamic Economic Forum today.

皇冠体育app UK鈥檚 funding to the Nomou business initiative will be amplified by the Shell Foundation to support 鈥榤issing middle鈥� businesses - those too large for microfinance but too small for traditional bank loans.

皇冠体育app fund will provide business support to more than 600 small and medium sized businesses and create more than 15,000 jobs in 5 countries including Jordan and Egypt where unemployment remains a huge problem.

Thousands of women across the Middle East and North Africa will also get help in growing their businesses and finding employment under a separate joint initiative from the UK and the Islamic Development Bank.

皇冠体育app UK will provide 拢6 million in new funding on top of an existing 拢4 million commitment to the Arab Women鈥檚 Enterprise Fund, which will be matched by the Islamic Development Bank.

Minister of State for International Development Alan Duncan said:

Jobs and growth are critical to the stability of the Middle East and North Africa. We are pleased to be working with the Shell Foundation to create thousands of jobs that will contribute towards the stable economic environment needed for growth and prosperity in the region.

Women are the engine of growth and it is not possible for a country to develop without investing in women. We are delighted to be working with the Islamic Development Bank to design and implement exciting projects that will strengthen women鈥檚 economic contribution to the Middle East and North Africa.

皇冠体育app new support for the Arab Women鈥檚 Enterprise Fund is aimed at improving the competitiveness of women entrepreneurs in the Arab world, which currently has the lowest rates of female participation in the global labour force.

皇冠体育app initiative focuses on poor and vulnerable women in Jordan, Egypt and Libya, where current crises are particularly affecting their incomes. It will also aim to reach women and girls in difficult to access rural areas right across the region.

Notes to editors

1. 皇冠体育app UK Government has prioritised supporting women鈥檚 economic empowerment as one of the four pillars of the Girls and Women Strategy.
2. 皇冠体育app 鈥淣omou鈥� business fund is designed to support the growth of small and medium-sized enterprises (SMEs) by providing medium-term loans of US$100k - US$2m and business support for participating companies.
3. 皇冠体育app WIEF is running from the 29-31 October at the ExCel in London, this is the ninth such forum and the first ever to be held in Europe. Both the Prime Minister and the Minister of State Alan Duncan are speaking at the event.