We are excited to showcase the transformative partnership between the Building Foundation for Development (BFD) and Al-Amal Microfinance Bank (AMB). Over time, BFD’s unwavering support and collaboration with AMB have significantly contributed to AMB’s mission of uplifting small and micro entrepreneurs facing financial constraints. Through funding and cash assistance programs, AMB has played a pivotal role in nurturing economic growth within communities. This article dives into the profound influence of this collaboration, highlighting the remarkable achievements empowered by BFD’s support for Al-Amal Microfinance Bank.
Empowerment through Cash Transfers and Microfinance Projects:
The dynamic synergy between AMB and BFD has led to substantial cash transfers, propelling various entrepreneurial pursuits. These transfers, both unconditional and conditional, have served as a vital catalyst for funding diverse projects aimed at empowering microentrepreneurs across governorates. Shedding light on the specifics of these transfers, let’s underscore the annual figures and their corresponding values:
These cash transfers have not only provided crucial financial backing to entrepreneurs but have also fueled the expansion of microfinance projects. As a result, our outreach has extended to an even broader community of individuals.
The Added Value of the Bank’s Partnership with BFD:
As Al-Amal Microfinance Bank is a non-profit Bank, during the years of 2021 – Aug. 2023 the Bank has allocated its revenues of cash transfer projects in partnership with BFD to cover part of the operating expenses of the Bank, and finance the loan portfolio for microentrepreneurs and providing electronic loans through PYES mobile money service, as one of the sustainable sources of liquidity that guarantees continuity of providing lending service to several categories in Yemeni society. The revenues of BFD projects during 2021 –2023 has contributed amounting to 47,180m YR to granting 313 loans.
The following table shows the details of these disbursed loans and the Impact of BFD's Projects on Yemen Governorates
Classification by the Gender, Area, and targeting Groups
Unveiling the Source of Resources: BFD’s Remarkable Endeavors:
At the core of this impactful collaboration lies the resources contributed by the Building Foundation for Development (BFD) through an array of projects executed over the years. Since the inception of BFD’s collaboration with AMB in 2021, a total of 25 humanitarian and relief projects have been initiated. These projects have been instrumental in addressing the humanitarian crises arising from the Yemen conflict and the far-reaching impacts of climate change.
These endeavors have been bolstered by support from esteemed United Nations organizations and international entities, including WFP, OCHA, UNICEF, UNFPA, WHO, FAO, UN-Habitat, Education Cannot Wait (ECW), IOM, RI, CFI, SC, DKH, NRC, E.C.O., VHI, IRC, GIZ, and global communities.
Pervasive Reach and Transformative Impact:
With a presence spanning over 170 districts of Yemen, encompassing more than half of the country’s northern and southern governorates, BFD’s initiatives have covered a diverse spectrum. From immediate humanitarian responses to conflicts and climate change-induced adversities such as floods, droughts, and disease outbreaks, our efforts extend to peacebuilding and development. Through more than 105 projects, benefiting over five million beneficiaries, BFD’s footprint is resolute and far-reaching.
Over its trajectory, BFD has secured grants totaling more than $107,497,734.60 million, a testament to the meaningful impact of our initiatives.
The partnership between BFD and Al-Amal Microfinance Bank is a testament to the power of collaboration in creating lasting change. Through BFD’s support, AMB’s mission to uplift entrepreneurs has gained momentum, fostering resilience and growth within communities. We extend our heartfelt appreciation to Al-Amal Microfinance Bank for its dedication to our shared vision of empowering individuals and building a brighter future for Yemen.