Access to affordable finance is still a major hindrance to implementation of business ideas in the marginal communities. Young people around the world often find enormous challenges to access credit facilities especially due to their lack of security to get loans from traditional finance institutions.
World Bridge has established a Bridge Entrepreneurship Fund (BEF) to extend affordable finance to young people around the world. This fund shall be co-managed by beneficiary communities with subscriptions from all those interested in benefiting from it.
BEF is an alternative finance facility designed to support marginal communities who would rather find it difficult to work directly with mainstream financial institutions such as banks and National funds.
The BEF is rooted in the conviction that the “power of the poor lies in their numbers” when the poor communities pool their finances together into a common pool, governed and managed by themselves, they can achieve significant and sustainable transformation.
The BEF will cover three components namely;