Azam Fat`hi Suliman Abu Kaush

Welcome (in Arabic, *Ahlan wa sahlan*) to our Kiva friends! Yesterday, on March 20, 2006, Azam received his Kiva loan in the amount of U.S. $800 for the purpose of purchasing goods to sell in his construction supplies store, including paint and tools. Upon receiving his loan yesterday, Azam said, *I feel comfortable now; I am going to order goods that are much needed. Thank you.* The Shurush Initiative and our Palestinian partner organization, the East Jerusalem YMCA, would like to to thank the generous Kiva lenders who made Azam`s loan possible. And we would like to wish Azam much success in his business -- in Arabic, *Natamanna laka al najah, ya Azam!* We look forward to updating you in the coming months about the progress of Azam Construction Supplies, which is located in Rafah El Sahabura in Gaza. His first loan repayment is due by April 20. We wish Azam all the best as he works to increase his sales. And to our Kiva friends, thank you so very much -- *Shukrun khteer!*

Dear Kiva Lenders:

Salamat from Ramallah: I hope you are doing well. 

The whole situation in Gaza is very bad because government funding has been cut off by outside governments.  As a result, governmental employees have not been paid their wages; in fact, by the end of the month, 160,000 government employees all over the country will not be paid for the third month in a row.  Additionally, Gaza has been isolated, which hurts not only Azam, but everyone in the country. 

People living in Gaza and the West Bank have only enough money to spend on their very basic needs, so Azam’s shop has been unable to sell enough to cover his payments.  We do not know when he will make enough money to repay his loan, but hope that this crisis will end soon. 

We will keep you updated. 

Thank you, 

Basil 

Dear Kiva Lenders and Supporters,
As you know, the West Bank and Gaza are experiencing a severe economic crisis. In May, the World Bank predicted that by the end of 2006, Palestinian per capita income would decline by 30 percent; unemployment would increase from 23 percent to 40 percent; and poverty levels would rise from last year’s 44 percent to 67 percent [source: World Bank, “The Palestinian Fiscal Crisis,” May 7, 2006]. In Gaza, where Shurush’s eight Kiva borrowers live and work, the economic situation is worse than in the West Bank. Gazan entrepreneurs are working under difficult conditions and restrictions on movement. For additional reading, an informative article on Gaza’s economic situation can be found in this week’s New York Times: http://www.nytimes.com/2006/06/18/world/middleeast/18gaza.html

Yet despite dire times, Kiva borrowers continue to perform miracles in order to repay Kiva lenders.

We apologize if your repayments are delayed or if these updates are less frequent than desired. Working with our Palestinian partner NGO, the East Jerusalem YMCA, Shurush will keep you informed as frequently as possible. Shurush is committed to helping those in need through our program, so it is our sincere hope that your generous loans will be repaid despite the grave economic situation in the West Bank and Gaza.

If you have any questions, please do not hesitate to email us at info@shurush.org

Thank you for your understanding, generosity, and support. And a special thanks to those of you who have posted such kind comments on these journals; we will continue to pass along your words of encouragement to the entrepreneurs. Sincerely,Bryan Berkett and the Shurush Team The Shurush Initiativetransparent microfinance | proactive employment

Shurush would like to congratulate Basil Jarrar on his wedding, which took place June 29th!  Basil is one of the hardworking staff members of the EJ-YMCA who is responsible for the success of our joint venture to lend to Palestinians in need.  Without his incredible effort, this program would not be possible. 

Unfortunately, as you may have read in the news, the situation in the West Bank and Gaza right now is terrible.  Although Basil surely deserves a relaxing vacation, his honeymoon will likely coincide with a period of intense conflict and violence.  Hopefully, when he returns on July 15th, the situation will have calmed down a bit.

Congratulations Basil and may you and your wife have many happy and healthy years together!

Dear Lender,

Unfortunately, this has been a very tough month for most of our clients and very few have been able to repay their loans. Although all our clients are trying to repay their loans, many of them have found this task impossible in the current climate. Additionally, our loan officers continue to have trouble reaching the clients. We continue to work with our clients to do what we can to make sure we can repay your generous loans. We will keep you updated.

On a positive note, Basil Jarrar, the project accountant, recently returned from a 14-day training seminar in Amman, Jordan on financial analysis and microfin (a microfinance accounting tool). Hopefully this will make our efforts even more transparent.

I hope you are well wherever you are,

Bryan

Azam's business was supposed to provide supplemental income to his salary with the Palestinian government. However, the Palestinian Authority has been unable to pay salaries, leaving Azam entirely dependent on his income from his business. Once the government begins paying his salary, he should be able to repay his loan.

Dear Kiva Lender:

I am sorry to tell you that no repayments were actually paid in the Kiva program, because the situation in Gaza is very difficult these days. Our staff couldn't reach our office in Gaza because of the clashes fight between Fateh and Hammas over the past week. Over the past month, all the shops and workshops have been closed and the situation is very dangerous in Gaza streets as over 60 person were killed last month. I called our staff at their houses and heard the sound of explosions and bullets during our conservation on the telephone.

We just wait to see what the situation will be in Gaza. We hope it will be calm next month, but at the same time, we are not optimistic.

You can't imagine how very bad the situation is. I know it's a black picture, but we hope it will change.

Best,

Basil