New SME support initiative for young entrepreneurs goes live: EFG Holding’s microfinance arm Tanmeyah and Qatar-based Education Above All Foundation’s Silatech launched a youth self-employment initiative, according to a joint statement (pdf). The 3.5-year program will support 305k young entrepreneurs in setting up and expanding micro and small enterprises across key economic sectors in a bid to address high youth unemployment rates.

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The details: The initiative will offer financing, financial literacy training, and business development services. The partners will roll out a partial credit backing mechanism to lower lending risks and a green financing product to support businesses in the agriculture and renewable energy sectors.

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