Impact Assessment of NEF RCF Program in NE Syria

For over 100 years, the Near East Foundation (NEF) has worked to build more sustainable, prosperous, and inclusive communities in the Middle East, Caucasus, and Africa through education, governance, and economic development initiatives. Working through a network of country offices and local partners, NEF has operations in ten countries: Armenia, Jordan, Lebanon, Iraq, Mali, Morocco, Palestine, Sudan, South Sudan, and Syria. Its programs are organized around three themes: Inclusive Economic Development, Climate-resilient Development, and Stabilization and Peacebuilding.

Since 2020, NEF, funded by the Syria Recovery Trust Fund (SRTF), has implemented a Revolving Credit Fund (RCF) program in Northeast and Northwest Syria to support micro, small, and medium enterprises (MSMEs) and foster economic resilience. This initiative has been instrumental in promoting financial inclusion and sustainable livelihoods in the region, contributing to community empowerment, stability, and economic recovery.

As the final phase of the SRTF RCF program under NEF’s leadership approaches its conclusion, this impact assessment will document and analyze NEF’s journey, outcomes, and processes from inception through the current program. The study aims to produce a high-quality, publishable report that showcases the RCF’s impact on the local economy, communities, and individuals, as well as NEF's adaptive management approach, effective processes, and achievements in advancing the RCF within challenging operational environments.

Assignment Overview:

This assessment seeks to provide a holistic and evidence-based analysis of the RCF’s impact in Northeast Syria, specifically evaluating the program’s effectiveness in fostering financial inclusion, economic resilience, and local economic growth. The findings will support NEF’s strategic planning, guide future RCF design for Siraj Financial Services—the microfinance institution established by NEF to lead in designing, implementing, and evaluating the financial services of upcoming RCFs in 1 northern Syria—strengthen fundraising efforts, and offer valuable insights for stakeholders interested in replicating the RCF model in similar contexts.