The presence of high unemployment of the youth population and the financial gap to support technologies suggests an underlying fundamental which fail to capacitate the youths to form their own businesses and financial independence.
At Qatar Fund for Development (QFFD) we are committed to support entrepreneurs and considering Small and medium size enterprise’s (SMEs) capacity to drive economic growth and job creation. In 2013, QFFD responded to the soaring unemployment rates in Tunisia and support its economic development through entrepreneurships and technology with an endowment of US$ 97 million.
QFFD worked with seven partners, through which support was provided to entrepreneurs and Micro, Small and Medium Enterprises (MSMEs) by implementing programs focused on improving access to finance and increasing capacity building. Micro and small finance loans were provided to empower entrepreneurs, and an integrated technology hub was launched to offer technical and financial support to entrepreneurs and innovative startups.
We set the ambitious target of creating 100,000 direct and indirect jobs. Midway through the program, QFFD has supported creations of 72,866 direct and indirect jobs. The fund aims to provide 100,000 job opportunities for the Tunisian youth by the end of 2021.
The partnership of QFFD aims to enhance youth empowerment in entrepreneurship projects that will insure the individual’s economic sustainability. Sustainable youth entrepreneurship is the main channel through which economic independence can be pursued.
The beneficiaries of the youth empowerment projects testified their success, sharing her story Naima Jebali who worked in market gardening and beekeeping said “I carried out a study for the creation of an agricultural project in the rural area of El Fahs. I started my project with fairly simple means, but now thanks to my olive tree market gardening activity which marked my beginnings, my project has been twice rewarded with medals and trophies, being elected best totally organic virgin olive oil without additives in the twenty-four governorates of Tunisia.”
Another successful entrepreneur is Mariem Aliét. With the financial and technincal support she recieved from QFFD’s partnership with Zitouna Tamkeen she was able to open a well equipped coffee shop with the best equipments in the local market offering a modern service to the local community. In addition to generating more jobs opportunuties for the community.
The efforts at QFFD to support youth empowerment is a continues effort. The successful outcomes of this project indicate that with the support of partners across the world and the commitment and determination of the youth, financial independence and stability can be obtained to various communities.