Lebanon Investment in Microfinance
Activities And Approaches
IESC strengthens and encourages microenterprise lending through a competitive, annual grant program to microfinance institutions, or MFIs, who then “on-lend” to borrowers in the key sectors.
IESC also provides relevant technical assistance to MFIs to better understand risk and manage their portfolio of microenterprise loans. MFIs receive training on industry best practices, new product development, and outreach to women and youth entrepreneurs. Finally, the program trains and mentors microenterprises that receive financing, in order to ensure their success.
In 2014, the program received additional funding from Feed the Future to help MFIs reach Lebanese agribusinesses that have been affected by the influx of refugees from Syria.
This program promotes economic growth throughout Lebanon by putting more capital in the hands of micro- and small businesses to expand and create jobs. Lebanon Investment in Microfinance works primarily in city outskirts and rural areas where access to credit is more limited and focuses microenterprises in the agribusiness, tourism, and information and communication technology sectors.
- $9.5 million in grants led to $35.8 million in loans to enterprises
- 2800 senior managers and loan officers were trained
- $12.1 million in loans to women borrowers
- 3,000+ new jobs were created, and many more were preserved
Administrator: Volunteers for Economic Growth Alliance
Project Duration: 2009-2015
Award: $14.3 million