“Tell me to the market” is a pioneering initiative to support the victims of the war on Gaza
Gaza- Young engineer Mahmoud Al-Madani hopes to obtain funding to help him revive his private project, which was completely destroyed during the last Israeli war last May.
Al-Madani, 29, is looking forward to winning a financing opportunity under the “good loan” system through the “Guide me to the market… Gaza is rising” program implemented by the “Youth Support Fund” of the Public Authority for Youth and Culture, and funded by the “Gaza Lovers Malaysia” Foundation to support pioneering projects small.
This is the third version of the program, and it is dedicated to the victims of the Israeli war, whether those who have sustained physical injuries, or those who have lost their homes, property or private businesses.
Al-Madani is one of the victims of the war, and he lost his own project, “Smart Electrical Systems Company”, headquartered in “Kahil Building”, which was reduced to a pile of stones and rubble due to Israeli air strikes.
Al-Madani Company was one of the small pioneering projects emerging in Gaza, specializing in electricity and alternative energy solutions in Gaza, which has been suffering from a stifling electricity crisis since 2006.
The war – which lasted for 11 days – left huge human and material losses, as well as the martyrdom of about 250 Palestinians and the wounding of about two thousand others, as well as massive destruction of thousands of housing units and commercial and economic projects, and the Ministry of Housing and Public Works estimated the value of its reconstruction at 420 million dollars.
Al-Madani said – to Al-Jazeera Net – that he established his company in 2019 with a small capital estimated at $9,500, the proceeds of his savings from working 4 years after graduating from university, and the company was the “main source of income” for 4 technicians and workers who became unemployed after the war.
And the civilian – like others – suffers from the slow process of reconstruction and compensation for those affected, and after a long wait, he resumed his work last month from a “temporary headquarters” with minimal capabilities, but he was unable to return his company’s employees to their work due to the “narrow situation”, according to his description, and his inability to bear their monthly salaries.
He says his “show me the market” funding helps him revitalize his devastated business and get employees back to work.
The “Tell me the market… Gaza is rising” program aims to finance 50 small entrepreneurial projects with a total value of $150,000, and the Director-General of the “Youth Support Fund” Issam Al-Habil – to Al Jazeera Net – says that funding for one project ranges between one thousand and five thousand dollars.
And, The program is required The applicant must be a war victim, whether physical or material, not be an employee, and be at least 22 years old and not more than 35 years old, in addition to submitting a feasibility study for the project.
The number of those registered on the first day of registration opening – which ends early next month – exceeded the total number of projects to be supported.
On the selection mechanism, Al-Habil indicated that there is a higher committee composed of specialized ministries and representatives of the private sector, in addition to a screening committee whose task is to evaluate projects and choose leadership and quality, and those that are executable. Field research verifies the validity and accuracy of data and information about the project owner.
Based on the results of these stages, project owners are subjected to a financial and administrative training program to help them succeed before obtaining financing.
The director of the Youth Support Fund asserts that the goal of these procedures is to achieve justice, transparency, and selection of the best.
Al-Habil said that the loan is repaid through regular payments ($100 per month), and the fund gives the beneficiary a grace period of 3 months to start making payments from the date of receiving the loan.
The Youth Support Fund had previously implemented two versions of the “Display me to the market” program. 19 projects benefited from the first version, with a total financing value of $51,000, and 30 projects benefited from the second version, with a total funding value of $80,000.