IOM’s Enterprise Development Fund (EDF) is an innovative programme that supports livelihoods at the community level through private sector revitalization and economic development by targeting small and medium-sized enterprises (SMEs). The EDF provides financial capital to SMEs in primary, secondary, and tertiary economic sectors with a high demand for labour, with the objective of post-conflict economic recovery and inclusive economic development. Concurrently, targeting key sectors and businesses with the greatest potential to create jobs, the EDF encourages rapid and large-scale job creation. Piloted in Iraq in 2018, the EDF has evolved and expanded over the years to cater for different socio-economic contexts both within Iraq and globally. In Iraq, the EDF has supported more than 1,300 SMEs and created more than 5,700 jobs. The EDF’s strength lies in its systematic structures that are compartmentalized into different processes to ensure accountability and flexibility to adapt and evolve. Since its inception, the EDF has been launched in five countries and continues to grow to this day, with strong foundation on research, market studies, and lessons learnt.
- 59% of total employees (87% of the new employees) reported their living conditions have improved.
- 89% of the total EDF employees are working full-time, 90% of the jobs created are full-time.
- 63% of total employees are between 18 and 30 years old, 67% of the newly hired employees are between 18 and 30 years old.
- 17% of the total employees are females, while 20% of the newly hired are females.
- The number of businesses having health and safety measures in place has increased by 47%.
Compliance And Registration
- The number of businesses registered with the Chamber of Commerce/Industry has increased by 56%.
- The number of businesses registered with government different ministries has increased by 34%.
- Businesses have higher registration rates and better working conditions compared to other businesses.
Revenue And Production
- 5% of business owners improved their products and services.
- 51% of businesses increased profits in the first 12-months.
Sustainable economic growth
EDF-w funds women-owned and women-staffed businesses to increase women’s participation in the private sector and labour markets at large
EDF-agriculture targets specific sectors in specific regions based on Value Chain Analyses to improve access and linkages to existing value chains for SMEs in all stages of agri-business, from production to final retailers.
In partnership with UNESCO, EDF-c supports businesses that contribute to the recovery and preservation of cultural heritage and culture at large
EDF-t provides funding to businesses destroyed by war and conflict by creating conditions that allow internally displaced persons to return to their area of origin and grants to individuals still in displacement.
EDF – lite was developed to address the gap between IOM’s two livelihoods programmes, Individual Livelihoods Assistance (ILA) and Enterprise Development Fund (EDF). ILA is a package of services consisting of Job Referrals (JR), On-the-Job Training (OJT), Business Support Package (BSP), and Vocational Training (VT) provided to vulnerable individuals, such as internally displaced persons (IDPs), host communities and refugee populations, particularly women, girls and youth, affected by armed conflict.
EDF aims to restore essential economic infrastructure by providing financial capital to SMEsestore essential economic infrastructure by providing financial capital to SMEs