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The future of the Israeli economy in the periphery depends on the success of small businesses. Many of these, struggle to get bank loans and so the UJIA is partnering with the Portland Trust and the Koret Foundation to guarantee these loans and also support the mentoring of the small businesses.
Categories
Beneficiaries
Situation
The project is combating high unemployment rates, and subsequent poverty, in the north of Israel. Many people are moving from the north to the larger cities of central Israel in order to find jobs, which further depletes the economic situation in the area. Securing loans for small businnesses is the best way to combat this, as they are able to grow and provide employment opportunities to local people as well as attracting others to move to the area and streghten it further
Solution
By securing loans for small businesses in the region, the economy will be bolstered in two ways; Firstly, new industry will create jobs for local people, enabling them to remain in the Galil and raise their families in the region. Secondly, it will encourage people from other parts of the country to move to the region, to both set up small businesses and to seek work in those already in existence. This will help to stimulate the economy of the entire region and is key to its regeneration.