Israel Economic Development
Koret's signature initiative in Israel is Koret Israel Economic Development Funds (KIEDF), which channels philanthropic dollars to leverage financing and policy support for small businesses. KIEDF has grown to become the state's dominant private-sector, small-business development program, helping tens of thousands of Israeli small businesses to create jobs while encouraging economic expansion in the private sector.
Created to prove to the Israeli banking establishment that small-business lending is a low risk, KIEDF partners with the nation's leading banks and has demonstrated that small business is the engine of a free-market economy. The program is overseen by KIEDF Managing Director Carl Kaplan and KIEDF Board Chairman Brig. (Ret.) Eival Gilady.
Key programs include:
- KIEDF Small Business Loan Fund, which works in partnership with bank Otzar Hachayal and Discount Bank to leverage loan guarantees and provide interest subsidies to small businesses lacking access to credit on reasonable terms.
Read profiles of loan recipients (PDF) - Kiva, the powerful web-based microfinance tool that is inspiring a new generation of micro-lenders, which has selected KIEDF as its exclusive field partner in Israel. Together, KIEDF and Kiva can connect to a new generation of lenders and tap a significant new source of funds for job creation at minimal cost.
Read profiles of loan recipients (PDF) - SAWA is a peer-lending program based on the Nobel Prize-winning Grameen model of microfinance. Since the program's inception, it has provided loans and business know-how to over 1,000 Bedouin women.
Read profiles of loan recipients (PDF) - KIEDF Microenterprise Initiative, which provides loan guarantees to economically disadvantaged populations seeking to establish home-based and other small businesses.
Read profiles of loan recipients (PDF) - KIEDF Israeli Arab Loan Fund, which leverages loan guarantees to businesses owned by Israeli Arabs, or jointly owned by Israelis and Israeli Arabs, in partnership with the Center for Jewish and Arab Economic Development (CJAED) and Mercantile Discount Bank.
Read profiles of loan recipients (PDF) - The Overseas Private Investment Corporation (OPIC), which helps U.S. businesses invest overseas and fosters economic development in new and emerging markets.
Read profiles of loan recipients (PDF)
Under the leadership of President Abraham D. Sofaer, the American Friends of KIEDF (AFKIEDF) provides organized support for the work of KIEDF to enhance economic expansion in Israel's private sector.
By focusing on the small-business sector, Koret Israel Economic Development Funds (KIEDF) has successfully channeled hundreds of millions of dollars to create jobs, bringing self-sufficiency and dignity to thousands of Israeli business owners and their employees.
