Siraj Financial Services emerged from a transformative journey that originated with a Revolving Credit Fund (RCF) program, designed and implemented by the Near East Foundation (NEF) in Northern Syria in response to the prevailing challenges MSE faced in accessing financing. It also leverages NEF’s regional Siraj brand and platforms delivering inclusive and holistic micro and small enterprise and livelihoods support services. Siraj Financial Services is a social enterprise and fully owned subsidiary of NEF under Belgian law. NEF is committed to continue to support strategically Siraj Financial Services particularly in areas related to non-financial and advisory services.
The financial and non-financial services offered by Siraj are financed by cornerstone funders, the Syria Recovery Trust Fund (SRTF), the United States Agency for International Development (USAID), and Vitol Foundation.“
Syria Recovery Trust Fund (SRTF)
United States Agency for International Development (USAID)
SFS is interested to explore additional partnerships across the following areas:
- Catalytic funders who can provide first-loss grant capital and guarantees to de-risk investors.
- Impact-first investors, protected by the catalytic capital providers, who can provide either debt financing based on fixed concessional rates of return or consider longer-term patient equity positions.
- Donors who can provide grant funding for three primary purposes: technical assistance (TA), impact measurement and management (IMM), and support to coverage of the capital (capex) and operational (opex) expenditures of SFS.