Improving Economies for Stronger Communities (IESC)
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Tel: 202-589-2600
Email: iesc@iesc.org
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Lebanon Investment in Microfinance
Approach
IESC strengthened and encouraged micro-enterprise lending through a competitive, annual grant program to microfinance institutions that then loaned to borrowers in the key sectors. IESC also provided relevant technical assistance to these institutions to better understand risk and manage their portfolio of micro-enterprise loans. Staff at microfinance institutions received training in industry best practices, new product development, and outreach to women and youth entrepreneurs. Finally, the program trained and mentored micro-enterprises that received financing to ensure their success.
In 2014, the program received additional funding from Feed the Future to help microfinance institutions reach Lebanese agribusinesses that were affected by the influx of refugees from Syria.
Summary
Lebanon Investment in Microfinance promoted economic growth throughout Lebanon by putting more capital in the hands of micro and small businesses to expand and create jobs. IESC worked primarily in city outskirts and rural areas where access to credit is more limited and focused on micro-enterprises in the agribusiness, tourism, and information and communication technology sectors.
Program details
- Funder: USAID
- Administrator: Volunteers for Economic Growth Alliance
- Duration: 2009 to 2015
- Award: $14.3 million
Results
- $9.5 million in grants led to $35.8 million in loans to enterprises
- 2,800 senior managers and loan officers trained
- $12.1 million in loans to women borrowers
- More than 3,000 new jobs created and many more preserved