Under the slogan “For Strong National Economy” and the patronage of capital secretariat Mr. Abdulqader Hilal, and participation of many government representatives, civil society organizations, and Chairman of Federation of Chambers of Commerce Haj. Mohammed Abdu Saeed, media and 60 customers of microfinance, in addition to many artisans and small business men, Yemen Microfinance Network (YMN)launched the event of Microfinance Clients’ Fair 2013. This event which is funded by Social Fund for Development ( SFD) held in Sunday, September 22 nd and continued until September 27 th, 2013.
The Clients’ Fair considered an annual tradition implemented by the YMN for the role of microfinance in fighting poverty and unemployment as major issues facing Yemen. It is also deemed the largest gathering for small and micro-enterprises in Yemen to be able to transfer their expertise to those who have successful project ideas and lack of the funding and technical support.
Furthermore, Ms. Najah Al-Mujahid YMN Managing Director, stated that by launching this event by YMN comes as a complement to the role of SFD in the establishment of microfinance industry since 1997. The SFD has established institutions provide microfinance services to the poor and low-income people, as well as focus on women group to create the culture of production for segments in the society.
In the inaugural ceremony, Mr. Mohammed Al-lai, YMN’s Chairman of Board of Directors stated that the continuity of holding events since 2005 comes under the framework of the recall in which the small loan can work out at the life of the Yemeni families in establishing small INVESTMENT projects as they have a great effect.
Understandably, this event is the eighth event for the Clients’ Fair and included more than 60 customers with different products representing a small sample of thousands of successful models funded by about 14 MFIs. There are more than 90,000 other successful stories on the ground also included.
It is worth mentioning, that MFIs member which all participated in the event funded over 550 thousand projects since 1997. More than one million and half of people have benefited from these MFIs. MFIs have also worked to create and promote the culture of saving and production of segments/groups that are capable of working, especially youth and women. Furthermore, the large and medium enterprises only represent only %4 in the Yemeni community, making the need for the government to prioritize the small enterprises to create job opportunities and keep the Yemeni families above the poverty line.