SFD inked a cooperation agreement with Al-Amal Microfinance Bank on the transfer of wages of Cash for Work Program participants
The SFD signed on a cooperation agreement with Al-Amal Microfinance Bank who will transfer wages of beneficiaries of participants of the Cash for Work Program, that provides jobs for the poor to contribute to the development of local infrastructure and individuals' productive assets such as the rehabilitation of agricultural terraces, conservation of soil from erosion, creation of and restoration of irrigation channels in addition to other development projects such as rural roads, rainwater harvesting tanks and others.
The SFD had hammered out a similar agreement with the General Postal Authority. The SFD focused 70% of its activities in the second half of 2011 on Cash-for-Work Program work ing under the "Labor-intensive Works Program" to respond to some of the economic and social challenges and rising food prices. On the other hand, the SFD is the largest financier of Al-Amal Microfinance Bank's capital by 45%.