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SILATECH, PNB LAUNCH NEW TOOL FOR PALESTINIAN ENTREPRENEURS

An in-depth analysis by Palestine for a New Beginning (PNB) and regional social initiative Silatech has produced an interactive map designed to help enable more effective interaction between entrepreneurs, support organizations and policy makers. Now available at  www.palestinemap.info, Silatech web site, and on  www.Ta3mal.ps, the ecosystem map presents the relationship between over 100 various entrepreneurship-related organizations and entities involved in finance, education, government, media, the private sector, donor institutions and civil society.

The interactive map provides a short description of each organization and link to its website, as well as information about where each organization operates and, where appropriate, which economic sector(s) it targets.

Palestine suffers from the highest unemployment rate in the Mashreq region, at 23 percent. Palestine’s youth unemployment rate tops 38 percent, higher than the Arab world’s average of 30 percent. The Arab world has the highest youth unemployment of any region in the world.

PNB Chairman Zahi Khouri commented on the need for the ecosystem map, saying “When PNB decided to begin working in entrepreneurship, we discovered a very busy space, yet still very few successes. We decided to work on this map in order for us to better understand the ecosystem, learn and decide where we could play a strong role (as representatives of the private sector and civil society).”

Describing PNB’s role in promoting entrepreneurship in Palestine, Khouri said “We have focused our efforts on showcasing Palestine’s successes through the Celebration of Innovation, and on bringing the different players together through Global Entrepreneurship Week. Members of our board also launched the Ibtikar Fund, which closes a critical funding gap between seed and VC investment. We hope that this map helps organizations developing new support programs understand where gaps remain.”

Rula Shunnar, Silatech Country Representative for Palestine and Jordan, emphasized that “A lack of clear and accurate information often hampers entrepreneurs from getting the support they need; we believe this map will provide a useful tool to help strengthen the entrepreneurship ecosystem, and look forward to working with our partners at PNB to continue supporting the Palestinian people, and especially Palestinian youth, in the future.”

Holding that helping new businesses to start and grow is essential for creating desperately needed jobs, Silatech works with over 100 partners throughout the Arab world to provide entrepreneurship and employment opportunities for young people. Since 2008, Silatech has enabled more than 90,000 youth-run businesses to start and grow, supporting more than 140,000 youth jobs.

In Palestine, Silatech partners with a variety of organizations to support Palestinian youth in areas such as access to microfinance, employability resources and job openings through Ta3mal.ps, career guidance, civic engagement and leadership training.

Palestine for a New Beginning is an alliance of public and private sector institutions and individuals that aims to leverage resources and experience by investing in innovative new projects and building on existing successful initiatives.

SILATECH, CARE JORDAN RELEASE STUDY ON OPPORTUNITIES FOR SYRIAN REFUGEES

CARE International in Jordan and Silatech have released an assessment outlining the opportunities available to youth in Azraq Refugee Camp to improve their livelihoods, as well as the types of skills they possess that could help them to do so. Conducted during May-June 2015, the “Baseline Assessment of Skills and Market Opportunities for Youth in Azraq Refugee Camp” is based on more than 200 individual and household interviews, and focus group discussions with more than 100 participants in Jordan’s Azraq Camp.

The assessment found that demand for work among Azraq Camp residents is very high, and recommended specific steps to address the demand.

Azraq Camp currently hosts over 19,000 Syrian refugees, over half of whom are children below the age of 18, while around 45% are of working age (18-59 years). The assessment found that there is great need for work in the Camp. Many are skilled, or could develop skills, and are hungry to build a better life for themselves.  Moreover, residents of Azraq Camp need money to cover their most urgent needs, as they rely heavily on a monthly cash allowance of only 20 JOD per person. This very small amount is provided for purchasing food through the World Food Program (WFP) food distribution point at Sameh Mall, which is the only place in the camp that sells any kind of goods.

The assessment finds that Camp inhabitants possess a variety of potentially useful skills, including trading, farming, carpentry, food production, teaching and hairdressing, and recommends finding opportunities for refugees to use the skills that they have. One recommendation in this regard is to open a marketplace in Azraq Camp. Currently, the only place in Azraq Camp that sells any kind of goods is Sameh Mall. The opening of a market would provide Camp population with numerous opportunities for income, as well as improve their quality of life simply by making more products and services readily available.

Fairuz Taqi-Eddin, Silatech’s Director of Country Operations, says “Markets bring life and livelihood opportunities to any setting. The much-anticipated market in Azraq camp will support the creation of enterprises. Silatech’s work in the enterprise space has proven to us the positive change that enterprises can bring to the economic status of individuals and families, while creating job opportunities for others.”

Silatech is a regional social initiative which works to improve employment and entrepreneurship opportunities for young people throughout the Arab world.

The study also includes an in-depth review of the Azraq Camp livelihood program, known as the Incentive-based Volunteering (IBV) scheme. The IBV scheme is the only mechanism in Azraq Camp to register job-seekers, facilitate recruitment and track the status of their placement in IBV opportunities.

“This livelihoods program is a major step in creating opportunities where refugees can offer their skills or develop new ones. Meanwhile, NGOs benefit from the experience of Syrian refugees. The IBV scheme has injected more than USD 1 million into the camp economy,” says Salam Kanaan, CARE Jordan Country Director.

The success of this livelihood effort has relied upon coordination between Jordan’s Syria Refugees Affairs Directorate (SRAD), UNHCR, CARE and other NGOs, organizing placement, rotation, and reporting. “The impact has been significant for those who participate, but the volunteer opportunities fall short of absorbing the supply of Syrians willing and able to contribute,” Kanaan says.

The report also found that women face several obstacles to participating in the local economy, including household duties, child care, and proximity to work places.

“Opportunities to work in the home, or closer to home would make it easier for a woman to contribute financially, build her skills, and ensure a better future for her family,” adds Kanaan.

SILATECH TO TRAIN SUDANESE ENTREPRENEURS

On June 16, Silatech signed an agreement in Khartoum with the Sudan Rural Development Company (SRDC) to provide entrepreneurship training for 1000 Sudanese youth. Signed by Silatech Deputy CEO Raed Al Emadi and Sudan Rural Development Company General Manager Dr. Jafar Farah, the agreement marks the first major program Silatech has undertaken to date in Sudan.

The training comes as part of a microfinance program in which the SRDC will provide approximately USD 1 million total to finance businesses of the 1000 selected entrepreneurs upon the completion of their ten-day entrepreneurship training course. Financed by Silatech and conducted through local implementation partner “Do Solutions,” the ten-day program will be conducted shortly after Ramadan.

A large number of the 1000 youth entrepreneurs who will take part in the training attended the June 16 ceremony, along with numerous other Sudanese dignitaries and officials, including government ministers, regional governors, and executives from top Sudanese financial institutions. The event took place at the Presidential Hall, and was held under the patronage of HE Dr. Abdul Rahman Hassan, Governor of the Central Bank of Sudan.

Silatech is a regional social initiative that works with partners throughout the Arab world to provide employment and entrepreneurship opportunities for young people. Silatech is currently working with 30 microfinance institutions in 11 countries throughout the region, and has to date enabled more than 90,000 youth-run businesses to start and grow, supporting more than 140,000 youth jobs. Silatech is the Arab region’s largest provider of youth-focused microenterprise services.

SILATECH PARTICIPATES IN UN EVENT ON THE DEMOGRAPHIC DIVIDEND AND YOUTH EMPLOYMENT

On June 1, the United Nations concluded a “High-Level Event on the Demographic Dividend and Youth Employment.” Held at the UN headquarters in New York, the event convened ministers and high-level government officials from over 50 countries involved in addressing the youth employment challenge in their respective countries.

The event was organized by the President of the United Nations General Assembly, the United Nations Population Fund, and the International Labour Organization. Qatar was represented by Ms. Maha Isa Al Rumaihi, Director of the Department of Planning and Quality Assurance at the Ministry of Youth and Sports, Ms. Amal Al Mannai, Executive President of Qatar Foundation for Social Work, as well as members of Qatar’s mission to the UN.

In recognition of its leading role in developing and supporting innovative programming aimed at creating economic opportunities for Arab youth, Silatech was invited by the International Labour Organization to participate in one of two expert panels organized as part of the event. The panel was titled “What Policies and Measures are needed to Create Opportunities for Youth Employment?” Silatech is a regional social initiative that works to create jobs and expand economic opportunities for young Arabs.

Over the past two decades, the Arab region has had the largest proportion of youth in its population of any region in the world. This demographic wave has placed pressure on both the education systems and the labor markets of Arab countries. Indeed, for over 20 years now, the Arab region has had the highest youth unemployment rates in the world by far, reaching close to 30 percent in 2015.

When asked what countries could do to improve the identification and promotion of youth employment solutions that work, Silatech Director of Research and Policy Dr. Nader Kabbani, who participated in the panel on behalf of Silatech, noted that “The youth employment challenge cannot be solved without creating jobs. In most countries, this means supporting the growth of micro- and small enterprises as the main engine of job creation.”

Drawing on Silatech’s experience, Dr. Kabbani identified a number of promising programs and interventions that have been successful in helping young people connect to economic opportunities, including school-based work experience and career guidance, increasing financial inclusion through online crowdfunding solutions, and supporting social entrepreneurship.

Participants in the event noted that successfully addressing the youth employment challenge requires the collaboration of the public sector, private sector, civil society in each country.  Only with each sector playing a role and working together can countries help young people reach their full potential.

REVAMPED TOUNES TA3MAL EMPLOYABILITY PORTAL LAUNCHED

On Friday, May 22, the official launch of the revamped Tounes Ta3mal youth employability platform took place in front of an audience of over 150 job seekers and students, along with representatives from career centers and universities, NGOs, and the Ministry of Higher Education & Scientific Research.

The original Tounes Ta3mal (tounes.ta3mal.com) was launched in October 2013 by regional co-founders Silatech and Microsoft, connecting Tunisian youth with tools, resources, career guidance, training and job opportunities to help them launch careers and start businesses.

Version 2.0 of the platform offers a more complete end-to-end experience—from developing one’s career profile, access to career counseling online and in-person, e-learning courses, entrepreneurship training, advice on preparing a CV, and job openings relevant to youth just starting their careers—all with a more accessible and easy to use interface.

This new version was made possible thanks to the contribution of initiative partners Edupartage, MercyCorps, Education for Employment, AIESEC Tunisia, USAID, Ooredoo Tunisia, the American Chamber of Commerce (Tunisia), and ATUGE.

Tounes Ta3mal Project Manager Mohamed Ali Chebaane commented, “We are constantly seeking to improve Tounes Ta3mal by listening to and incorporating feedback from our users—young Tunisians—as well as from our local partners. Tounes Ta3mal 2.0 provides greater usability, more localized Tunisian content, and a wealth of rich new multimedia content which will assist youth in their search for employment.”

The launch was centered on content-driven workshops that demonstrated the resources on the platform. They covered important topics including:

  • “Tamheed,” a psychometric assessment tool used to define important career choices;
  • A unique workshop delivered by Mercy Corps on financial education as a critical factor for success;
  • How to use the “Build Your Business” entrepreneurship curriculum as a first step in preparing to launch a startup business; and,
  • The important role of Career Development Centers in universities to deliver key career counseling with the support of USAID, Pragma and the Ministry of Higher Education.

The day’s presentations concluded with an interactive panel of HR experts representing four major Tunisian companies including Orange, Land d’Or, Crown Cork & Seal and Bonna Tunisia. They shared practical advice about the Tunisian labor market, CV writing techniques, job search skills, and techniques for a successful job interview. The youth in the audience had the opportunity to ask them questions and engage in an active dialogue.

Thanks to contributions from over 65 local partners, Ta3mal now has specialized country portals developed for Egypt, Qatar, Iraq, Tunisia, Palestine and Morocco, with the latest being launched in May 2015 in Algeria. Over 4000 employers from throughout the region are now registered on the Ta3mal network, posting almost 58,000 job opportunities since Ta3mal’s inception.

In Tunisia, Ta3mal is connected with the “Najja7ni Employment” mobile app launched by Ooredoo Tunisia (formerly Tunisiana), which provides quick and easy access from 2G mobile phones to English language assessments, career guidance, and job opportunities.

MICROCRED YOUTH STARTUP LOAN “IRADA” LAUNCHED IN TUNISIA

Microcred Tunisia has announced the launch of “Irada,” a new loan product designed especially for young startup entrepreneurs. Designed in partnership with regional social initiative Silatech, Irada is expected to finance around 450 startup businesses in Tunisia over a three year period.

In addition to providing expertise in designing Irada, Silatech is providing loan capital as well as training to help Microcred loan officers support and coach young startup entrepreneurs during the pre- and post-financing phases. Irada is supported as well by the European Union, AFD, UN’s International Fund for Agricultural Development (IFAD), Making Cents International and Planet Finance.

Irada is one of a new group of loan products designed for young startup entrepreneurs that Silatech is helping microfinance institutions in the region to bring to the market in 2015.

Responding to the regional youth unemployment crisis, these products have been designed to enable youth to create jobs not only for themselves, but also for other youth, as their businesses succeed and grow.

Youth unemployment in the Arab World stands at 30 percent—the highest of any region in the world. In Tunisia, the rate stands at 31 percent.

According to the World Bank, youth in the Middle East and North Africa (MENA) region have the world’s lowest levels of financial access, meaning that young would-be entrepreneurs are frequently prevented from starting businesses because they cannot get access to finance. It is estimated that there is a financing gap for micro-, small-, and medium-sized enterprises (MSMEs) in the region of $320 – 380 billion.

Silatech CEO Mohammed Al Naimi commented on this new partnership: “Tunisia is a country of focus for Silatech, and this partnership with Microcred represents an innovative response to the youth unemployment crisis in the region. He added, “The Irada project will play a key role in turning job seekers into business owners, creating jobs for other youth as they grow their businesses and contribute to the economic development of the country.

Innovative financial institutions such as Microcred also stand to gain from targeting the startup market, as the larger financing amounts required by this cohort can generate higher profits. Younger clients can offer substantial lifetime value, and institutions can gain significant positive visibility by implementing meaningful solutions in the fight against youth unemployment.

According to Bodo Lieberam, CEO of Microcred Tunisie, the first disbursement of the Irada loan has taken place this week. Microcred Tunisie granted a loan of 4,500 TDN to a 25 year old entrepreneur that will open a shop for dried fruits and other alimentary goods in his quarter of Ezzahrouni, close to the first branch of Microcred Tunisie. “Those young people are full of energy and ideas, but what is lacking is funding to start a new business. But our support is much broader than just funding. We train the people in management, basic accounting, legal aspects and commercialization and help them doing their business plan. The conditions of the loan are adapted to the situation of each individual client. After the disbursement of the loan we coach the young entrepreneur in order to increase the chances of success.

Microcred Tunisie is a subsidiary of the Microcred Group, whose mission is to provide accessible and quality financial services as well as support tailored to people excluded or underserved by the traditional financial system, especially MSMEs. Microcred Group has operations in France, Madagascar, Senegal, China, Nigeria, Ivory Coast and Mali, with Microcred Tunisie launching operations in November 2014.

Silatech is a regional social initiative that works with partners throughout the Arab world to provide employment and entrepreneurship opportunities for young people. Silatech is currently working with 30 microfinance institutions in 11 countries throughout the region, and has to date enabled more than 90,000 youth-run businesses to start and grow, supporting more than 140,000 youth jobs. Silatech is the Arab region’s largest provider of youth financial services.

TA3MAL YOUTH EMPLOYABILITY PORTAL IS LAUNCHED IN ALGERIA

Unemployed young Algerians and aspiring entrepreneurs now have the opportunity to realize their ambitions and start their working lives through the new Djazair (Algeria) Ta3mal (djazair.ta3mal.com) employability portal.  Founded in April 2012 by Silatech and Microsoft, Ta3mal is a regional network with specialized country online portals developed for Egypt, Qatar, Iraq, Tunisia, Algeria, Palestine and Morocco. Silatech and Microsoft are regional co-partners, while at the local level, over 65 partners from the non-profit, educational, governmental and private sectors provide specialized content, job opportunities and access to services appropriate for each country.

Silatech is a regional social initiative that works to create jobs and expand economic opportunities for young people throughout the Arab world.

In Algeria, Ta3mal is being implemented in partnership with Emploitic, World Learning and AIESEC, who will bring their knowledge and expertise in training, supervision and support for young people, contribute to content development, and ensure that Djazair Ta3mal is adapted for the specific needs of young Algerian job seekers and entrepreneurs.

Youth unemployment is a longstanding and acute problem in the Arab world. At 30 percent, Arab countries have the highest rate of youth unemployment of any region in the world. According to the International Labour Organisation, youth unemployment in Algeria stands at 24 percent.

Djazair Ta3mal provides job seekers with career guidance and advisory services, skills training, and access to over 700 online courses in order to enhance their professional skills, in addition to openings for entry level jobs. The portal offers young entrepreneurs essential information about how to set up and finance a business. Importantly, Djazair Ta3mal offers employers the opportunity to recruit qualified young job seekers that meet their employment needs.

At a Wednesday ceremony launching Djazair Ta3mal, Ta3mal National Project Manager Ghizlane Zouai said: “Young Algerians using Djazair Ta3mal will benefit from free and easy access to a wealth of tools that will help ease their path into the world of work or entrepreneurship. I would like to thank all the partners who are providing the tools and expertise that make Djazair Ta3mal an invaluable resource for both young job seekers as well as employers.”

Yehia Houry, Ta3mal Regional Manager at Silatech, said enthusiastically: “We are very pleased to welcome Algeria into a growing network of employability platforms that has engaged more than one million young people across the region. We look forward to growing our partner base in Algeria to help us achieve our mission of supporting young people to find jobs or open their own businesses.”

Following a demonstration of the Djazair Ta3mal platform at the Wednesday launch, university student Ons Gharbi said, “We see that Djazair Ta3mal is rich in content, and a different type of platform from other job sites. Youth need such a portal to help and guide them in their job search, as well as if they choose to become entrepreneurs and launch businesses.”

CONFERENCE MOBILIZES LEADERS, INNOVATORS TO ADDRESS ARAB YOUTH EMPLOYMENT

With unemployment among Arab youth the highest of any region in the world—climbing above 29 percent in 2014, over 350 leaders and practitioners from civil society, government, and the private sector have gathered in Amman to share innovative and effective approaches to addressing the region’s youth employment challenge.

Organized by regional social initiative Silatech and hosted by the International Youth Foundation (IYF), the three-day conference on Arab Youth Employment: Promoting Innovative Solutions to Longstanding Challenges was launched today in Amman’s Landmark Hotel. The conference is being sponsored by the World Bank’s Solutions for Youth Employment Coalition and the Americana Group. It is also supported by the Jordan Chamber of Industry.

The conference will give special attention to the process of developing successful youth employment policies and initiatives, and creating opportunities for practitioners to replicate and grow effective programs throughout the region.

Silatech Acting CEO Mohammed Al Naimi welcomed delegates from over 30 countries at the opening of the conference, stressing the importance of learning from the experiences of others in order to design programs and policies that directly improve the economic prospects of young people. He stated: “We are gathered here in Amman for two main reasons. One, to share our findings and insights about the effectiveness of various youth-serving programs and policies; and, two, to form collaborations and partnerships to scale up and replicate successful programs. Knowledge sharing and action must be linked closely together if we are to achieve real and lasting impact for the youth of our region.”

Said International Youth Foundation CEO William S. Reese, “We’re here to discuss current trends, gaps, and best practice approaches for providing today’s Arab youth with the training and support they need to succeed in the face of high rates of youth unemployment across the region. Experience tells us there are no quick fixes, but that by working together—combining our collective resources and expertise—there’s much we can do to create opportunities for an emerging generation of youth with much to contribute to their communities and nations.”

During the day’s first plenary session—“Rethinking the Youth Employment Challenge”— HE Dr. Nidal Katamine, Minister of Labor of Jordan, Dr. Omar Razzaz, Chairman of the Board of Directors of Jordan Ahli Bank, and HE Dr. Talal Abu Ghazaleh, Founder and Chair of the Talal Abu Ghazaleh Organization, discussed why the youth employment challenge has been such a longstanding and difficult problem for the region, and ways in which the public sector, private sector, civil society and the NGO community can work together to address the issue.

During the three-day conference, participants will share lessons and experiences about a wide variety of topics related to youth employment, including the following:

  • Innovations in youth enterprise financing;
  • Engaging the private sector for youth employment;
  • The importance of monitoring and evaluation of programs;
  • Achieving scale and resilience in employment initiatives through technology;
  • Partnerships in policy making;
  • Enabling entrepreneurship ecosystems and alliances;
  • Private sector-driven solutions for scaling up initiatives.

Contributing partners leading sessions during the three-day conference include the World Bank, the International Labor Organization, Oasis 500 (Jordan), Tamweelcom (Jordan), Mowgli (UK), Save the Children, United Nations Development Programme (UNDP), Beyond Reform and Development (Lebanon), the Abdul Latif Jameel Poverty Action Lab (USA), Ahead of the Curve (Egypt), Tawasul (Oman), the RAND Corporation (USA), and Future First Global. Furthermore, policy makers from Egypt, Jordan, Iraq, Palestine, and Saudi Arabia are participating in the conference.

REGIONAL CONFERENCE TO BOOST ARAB YOUTH EMPLOYMENT

Policy makers, NGO representatives, and private sector leaders from over 30 countries will gather in Amman from April 28-30 to share solutions and form partnerships to address the challenge of youth unemployment in the Arab world. Organized by regional social initiative Silatech and hosted by the International Youth Foundation (IYF), the “Arab Youth Employment: Promoting Innovative Solutions to Longstanding Challenges” conference will showcase innovative, evidence-based approaches to youth employment that are being implemented by leading youth-serving organizations from throughout the region and the world. The conference is being sponsored by the World Bank and the Americana Group. It is also supported by the Jordan Chamber of Industry.

While youth unemployment is a global challenge, the need for scalable, effective youth employment programs is particularly urgent in the Arab world, as youth unemployment in the Arab countries is the highest of any region in the world, and continues to grow. The jobless rate among Arab youth has increased from 24% in 2009 to 29% in 2014, while entrepreneurship has declined over the same period.

During the three-day conference, participants will share lessons and experiences about a wide variety of topics related to youth employment, including financing for young entrepreneurs, engaging the private sector for youth skills development, the benefits of technology in employment solutions, social enterprises and inclusive business models, and many more. The conference will give special attention to the process of creating successful youth employment policies and initiatives and creating opportunities for practitioners to replicate and grow effective programs throughout the region.

Acting Silatech CEO Mohammed Al Naimi and International Youth Foundation CEO William S. Reese will open the conference with welcoming remarks on Tuesday, April 28. A member of the Silatech Board of Trustees and Executive Committee, Mohammed Al Naimi became Acting CEO of Silatech on April 1 following the recent departure of Dr. Tarik M. Yousef, who served as Silatech CEO from mid-2011 through March 2015.

High profile policy makers slated to address the event will include HE Dr. Nidale Katamine, Minister of Labor (Jordan), HE Eng. Adel Fakeih, Minister of Labor (KSA), and HE Dr. Talal Abu Ghazaleh, Founder and Chair of the Talal Abu Ghazaleh Organization (Jordan). Other policy makers from Egypt, Jordan, Iraq, Palestine, and Saudi Arabia will be participating in the conference as well.

Leading organizations represented at the conference will include the World Bank, the International Labor Organization, Oasis 500 (Jordan), Tamweelcom (Jordan), Mowgli (UK), Save the Children, United Nations Development Programme (UNDP), Beyond Reform and Development (Lebanon), the Abdul Latif Jameel Poverty Action Lab (USA), Ahead of the Curve (Egypt), Tawasul (Oman), Rwaq (KSA), the RAND Corporation (USA), Al Amal Microfinance Bank (Yemen), Ruwwad (Jordan), the Jordan Federation of Tourism Associations, Bayt.com, Injaz Jordan, MicroCred (Tunisia), World Learning, the Egyptian National Competitiveness Council, Silicon Baadia, IHEC Carthage (Tunisia), and GIZ (Germany).

Conference registration is open now. For more information about “Arab Youth Employment: Promoting Innovative Solutions to Longstanding Challenges,” see the conference Website at www.aye2015.org.

SILATECH CONDUCTS TRAINING FOR TAMWEELCOM

Twenty credit officers from Jordanian micro-credit company Tamweelcom learned how to better serve the youth market during a two-day “training of trainers” workshop conducted in Amman by regional social initiative Silatech. The training, which took place April 7-8, complements the introduction of Amal Al Shabab (“Hope of the Youth”), a soon-to-be-launched loan product for youth-owned startup microenterprises developed jointly by Tamweelcom and Silatech.

Designed especially for the youth startup market, Amal Al Shabab is expected to finance approximately 3,000 startup businesses in Jordan over a three year period, creating or sustaining an estimated 4,500 jobs as a result.

Youth unemployment in the Arab World stands at 28 percent—the highest of any region in the world. In Jordan, youth unemployment tops 30 percent.

Amal Al Shabab is one of a new breed of youth startup products that Silatech is helping microfinance institutions in the region to bring to the market in 2015.

Responding to the regional youth unemployment crisis, these products have been designed to enable youth to create jobs not only for themselves, but also for other youth, as their businesses succeed and grow.

Innovative financial institutions such as Tamweelcom also stand to gain from targeting the startup market, as the larger financing amounts required by this cohort can general higher profits. Younger clients can offer substantial lifetime value, and institutions can gain significant positive visibility by implementing meaningful solutions in the fight against youth unemployment.

During the workshop, Silatech representatives trained the credit officers about the details of the Amal Al Shabab product, outlined approaches and communications techniques for youth, and advised on more accurate and relevant criteria to use when screening loan applicants.

Tamweelcom is a pioneering Jordanian non-profit microfinance company that endeavors to fight poverty and unemployment. It is wholly owned by the Noor Al-Hussein Foundation (King Hussein Foundation). More than 300,000 clients, 94% of whom are women, have received funding since Tamweelcom’s inception in 1999.

Silatech is currently working with 30 microfinance institutions in 11 countries throughout the region, and has to date enabled more than 80,000 youth-run businesses to start and grow, supporting more than 130,000 youth jobs. Silatech is the Arab region’s largest provider of youth financial services.