UNIDO and UNDP Somalia works together to provide access to finance for small businesses in Beletweyne

BELETWEYNE, Septemebr 2021 — With funding from various partners, UNIDO established a credit facility to ensure access to finance for small- and medium-sized enterprises (SMEs) and start-ups in Belet Weyne, with support from the Hiran Chamber of Commerce and Industry and Enterprise Development Unit (EDU).

More than 60 SMEs from Belet Weyne have completed the training of entrepreneurs course and 18 SMEs have received business counselling services since the establishment of the EDU there.

Of the trained SMEs, 13 SME projects, including three which are led by women, have received loans amounting to $100,000 to expand existing businesses or to support start-ups in the city.

The main goal of the credit facility is to increase the numbers of micro-, small- and medium — sized enterprises having access to sustainable financial solutions and to support the development of the productive sectors in Somalia.

The funding partners are the UNDP Peacebuilding Fund, the UN Multi-Partner Trust Fund Office and the Italian Agency for Development Cooperation.