Revolving Fund Program in Dakhla Oasis,Western Desert

The project aims at improving the economic conditions, and promote the efficient use of natural resources available in the Shams Village - Dakhla Oasis through lending from a revolving fund. The Community Development Organization in Shams will establish a revolving fund to support 66 projects. The community members will use the micro-loans for a variety of economic activities such as buying water pumps for agricultural use, land reclamation, animal husbandry, poultry and handcrafts. The Canada Fund will support the establishment of a revolving fund with the seed capital to support the start-up of 66 projects within the above mentioned sectors to be recovered over 2 years period. Loans amounts vary between 1000-3000 L.E. with a 12% interest rate and administrative costs to be recovered over 2 years. The revenue from the interest rates and administrative costs shall be added to the initial amount of the revolving fund, thus ensuring the growth and sustainability of the financial resources of the Shams Community Development Organization as well as continuous access to credit to the Shams community, Dakhla-Western Desert.