Sana’a: The General Authority for the Development of Small and Micro Enterprises and the Bani Al-Harith Multi-Purpose Cooperative Association signed an agreement today to establish and operate a leather product manufacturing factory in Bani Al-Harith District, Capital Secretariat, funded by the General Authority for Zakat.
According to Yemen News Agency, under the agreement, the Authority will provide a development loan of 10.5 million riyals to finance the project, which represents a model of integration between developmental financing institutions and cooperative work.
The project will be implemented for the benefit of 20 beneficiary families from the poor registered in the Zakat Authority’s records. Seventy percent of the project’s returns will be allocated to the beneficiaries, while thirty percent will be allocated to the Association to cover operational and administrative expenses.
The project aims to economically empower the poor by establishing sustainable productive projects, support local industry in the field of leather products, and provide job opportunities for a number of skilled individuals in the district.
The agreement was signed by the Chairman of the Authority, Ahmed Al-Kabsi, and the Chairman of the Association, Sadiq Al-Jadli. Al-Kabsi emphasized the importance of the project, which aligns with the state’s directions to promote sustainable community development and enable the most needy groups to actively participate in the production process. He indicated that the Authority is working to expand its partnership with cooperative associations to achieve balanced local development.