Koret Israel Economic Development Funds (KIEDF)
The Koret Israel Economic Development Funds (KIEDF) was established in Israel in 1994 upon the initiative of the Koret Foundation of San Francisco to stimulate economic development and employment opportunity in the private sector in Israel. Since inception, KIEDF has facilitated close to $225 million in financing to over 8,500 small and micro businesses in Israel while creating and supporting more than 45,000 jobs.
Since 2003, KIEDF is involved with development and implementation of microenterprise development programs throughout Israel to increase employment and socioeconomic advancement opportunities for low income populations facing barriers to business training and financing on reasonable terms. Thousands of microenterprises have been supported and developed with the support of these programs.
In 2006, KIEDF established SAWA – Israel's first microfinance program providing direct non-bank loans. Group and individual direct loans are distributed by KIEDF's revolving loan fund at the Postal Bank. Loans support a wide variety of businesses including small commerce, grocery stores, animal raising, hairdressing, sewing, day care etc. Kiva works only with KIEDF's SAWA direct lending program to expand access to financial services to excluded populations.
During the first 4 years of operation, SAWA operated mainly among Bedouin women in the south of the country. In 2010 the program has expanded to additional populations throughout the country including unemployed Jewish women, immigrants, orthodox Jewish women and additional Arab Israeli women. At the end of 2012, SAWA began its lending operations in Jerusalem. The success of SAWA, one of a few microfinance program in Israel, illustrates tremendous possibilities of microfinance in combatting poverty.
Repayment Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Start Date On Kiva | Dec 8, 2010 | Oct 12, 2005 | |
---|---|---|---|
Total Loans | $2,814,975 | $2,046,857,240 | |
Amount of raised Inactive loans | $0 | $329,125 | |
Number of raised Inactive loans | 0 | 224 | |
Amount of Paying Back Loans | $415,825 | $154,628,025 | |
Number of Paying Back Loans | 73 | 186,271 | |
Amount of Ended Loans | $2,399,150 | $1,851,013,910 | |
Number of Ended Loans | 596 | 2,491,542 | |
Delinquency Rate | 3.00% | 12.11% | |
Amount in Arrears | $6,535 | $11,277,316 | |
Outstanding Portfolio | $207,203 | $93,149,537 | |
Number of Loans Delinquent | 8 | 54,545 | |
Default Rate | 5.25% | 1.82% | |
Amount of Ended Loans Defaulted | $126,036 | $33,742,451 | |
Number of Ended Loans Defaulted | 70 | 88,997 | |
Currency Exchange Loss Rate | 0.25% | 0.47% | |
Amount of Currency Exchange Loss | $8,064 | $12,725,634 | |
Refund Rate | 0.20% | 0.53% | |
Amount of Refunded Loans | $5,525 | $10,938,345 | |
Number of Refunded Loans | 1 | 9,670 |
Loan Characteristics On Kiva
This Lending Partner | All Kiva Partners | ||
Loans to Women Borrowers | 98.38% | 78.48% | |
---|---|---|---|
Average Loan Size | $4,210 | $393 | |
Average Individual Loan Size | $4,210 | $586 | |
Average Group Loan Size | $0 | $1,910 | |
Average number of borrowers per group | 0 | 8.3 | |
Average GDP per capita (PPP) in local country | $36,200 | $5,593 | |
Average Loan Size / GDP per capita (PPP) | 11.63% | 7.02% | |
Average Time to Fund a Loan | 7.9 days | 9.12 days | |
Average Dollars Raised Per Day Per Loan | $532.62 | $43.09 | |
Average Loan Term | 29.78 months | 11.5 months |
Journaling Performance on Kiva
This Lending Partner | All Kiva Partners | ||
Total Journals | 243 | 1,221,186 | |
---|---|---|---|
Journaling Rate | 29.83% | 41.91% | |
Average Number of Comments Per Journal | 0.04 | 0.02 | |
Average Number of Recommendations Per Journal | 0.01 | 0.55 |
Borrowing Cost Comparison (based on 2016 data)
This Lending Partner | Median for MFI's in Country | All Kiva Partners | ||
Average Cost to Borrower | 4% PY | N/A | 26.44% PY | |
---|---|---|---|---|
Profitability (return on assets) | -5.3% | N/A | -1.28% | |
Average Loan Size (% of per capita income) | N/A | N/A | 0.00% |
Country Fast Facts
- Country:
- Israel
- Capital:
- Jerusalem
- Official Language:
- Hebrew (official), Arabic, English
- Population:
- 7,821,850
- Avg Annual Income:
- $36,200
- Labor Force:
- agriculture: 1.6%, industry: 18.1%, services: 80.3%
- Population Below Poverty Line:
- 21.00%
- Literacy Rate:
- 97.10%
- Infant Mortality Rate (per 1000):
- 3.98 deaths
- Life Expectancy:
- 81.28 years
Lending Partner Staff
Anna AvitalBeth deBeer