Development and Employment Fund (DEF)

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Development and Employment Fund (DEF)

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Overview

The Development and Employment Fund was established in 1989 and began its lending operations in 1991 as a government institution with financial and administrative independence. It is concerned with the development and financing of small, medium, and micro enterprises through its revenues to maintain social and economic peace amid ongoing developments. The Development and Employment Fund Law No. (33) of 1992 and its amendments were issued.

The fund is managed by a Board of Directors headed by His Excellency the Minister of Labor, which includes the Director General of the Fund, the Secretaries-General of the ministries of Planning, International Cooperation, Finance, and Social Development, and four representatives from the economic, production, and service sectors. These representatives are nominated by the Council of Ministers based on the recommendation of the Chairman of the Council for a period of two years, which can be renewed for a similar period once.

Contribution to the Entrepreneurship Ecosystem

The Development and Employment Fund makes a notable contribution to the entrepreneurship system and works to raise awareness, encourage, and finance the poor, low-income people, and the unemployed who are qualified by trade or profession to establish their projects in the industrial, craft, service, or tourism fields in order to create sustainable job opportunities for them that generate an appropriate income.

To benefit from their energies and exploit them for economic and social development.

Services
  • Finance (MSME).
  • Support Services (Events).
  • Support Services (Research).
  • Learning (Training).
  • Governance (Advocacy) – As part of AEN.
  • Support Services (Networking) – As part of AEN.