São Paulo – The IBSA Fund has approved funding support to a United Nations program focused on providing microcredit to Palestinian small-business owners. United Nations Office for South-South Cooperation Director Dima Al-Khatib was quoted as saying in a statement that they “look forward to working in collaboration with all stakeholders” for “this valued project” to be effectively and expeditiously implemented.
The funding will be received by the Mudarabati initiative, spearheaded by the UNRWA Department of Microfinance. Mubadarati was established in 2023 to support male and female entrepreneurs between from 18 to 30 years old starting a new business with or without employees. Originally established in the West Bank, Mubadarati has expanded into Syria and Jordan.
Project originally established by Palestinians expanded
The funding released now will focus on empowering marginalized communities by investing in the agri-business development. The IBSA Fund was established jointly by India, Brazil and South Africa in 2004 to identify replicable and scalable projects that can be disseminated to developing countries on a demand driven basis as examples of best practices in combating poverty and hunger.
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