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VEGA/IESC Lebanon Investment in Microfinance (LIM) Program Yields Positive Results for Participants

Success Story

USAID Supports a Small Bakery in the Old city of Saida to Sustain Operations and Expand Sales through Lebanon Investment in Microfinance Program

Saida, Lebanon, September 2010 - As a part of USAID's $1.6 million Lebanon Investment in Microfinance (LIM) program, Mr. Salim Al Batach, a young man from Saida, benefited from a $1,000 micro-loan to further equip his bakery, located in the old city of Saida.  Funded by USAID through Ameen s.a.l., Mr. Al Batach took his seventh micro-loan to procure wooden bakery boards and a dough machine in order to handle the increase in demand for his bakery products and eventually to increase his income by 20%.

LIM Beneficiary_-_Salin_Al-Batach_Bakery_in_Saida.jpg

 USAID/Lebanon Mission Director visiting Mr. Salim Al-Batach at his bakery in the old city of Saida
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Lebanon Investment in Microfinance Program Beneficiaries

Name: Abdallah Attar

Sector: Agriculture

Loan Amount: $5,000

USAID Funded LIM Program Provides Technical Assistance to Leading Lebanese Microfinance Institutes

December 3, 2009, Lebanon

Mr. Handley (Center back) and LIM Chief of Party, Mr. ElZein (center front) with representatives of cooperatives and AlMajmoua Agricultural Engineer (far right)The Volunteers for Economic Growth Alliance (VEGA) Lebanon Investment in Microfinance (LIM) Program, implemented by the International Executive Service Corps (IESC), provided technical assistance to three Lebanese microfinance institutes through the services of Mr. Hal Handley, an IESC international agribusiness expert. With over 45 years of experience, Mr. Handley provided tailored assistance to program partners and leading micro-finance institutes (MFI) ADR, AlMajmoua, and Ameen. The United States Agency for International Development (USAID) funded the LIM program to increase access to finance in rural communities in order to sustain and expand existing businesses, increase sales revenues, encourage entrepreneurship, launch new businesses, and create new jobs. The LIM program partnered with three leading MFIs to provide loans to micro and small businesses operating in rural and peri-urban communities across Lebanon. In its first quarter, the LIM program loaned over $275,598 to 145 agribusinesses and helped sustain and create over 264 full time and 90 seasonal jobs.
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USAID Press Release on VEGA Microfinance Program in Lebanon

July 2009

Lebanon Investment in Microfinance Program - Launch Event Photo

 

 

 

 

 

 

 

 

USAID recently highlighted  the Volunteers for Economic Growth Alliance (VEGA) and our lead implementing member, International Executive Service Corp a a grant recipient in the Lebanon Investment in Microfinance Program.

Click here to read the press release
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VEGA Lebanon Assessment and Economic Growth Strategy Design

VEGA/LAGO developed a strategy document to inform the decision-making and programming for the design of the 2007-2010 USAID/Lebanon Mission Strategy, with the focus of stimulating economic growth and opportunity for disadvantaged rural populations.

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Lebanon

Lebanon Investment in Microfinance

Implementing Organization:
International Executive Service Corps (IESC)

In April 2009, USAID awarded VEGA $1.9 million to support USAID's current economic growth portfolio in Lebanon by responding to the high demand for microfinance and stimulating an economic revival of poor communities.

VEGA’s Lebanon Assessment for Growth and Opportunity (LAGO)

Implementing Organization:
Citizen's Development Corps 

VEGA’s Lebanon Assessment for Growth and Opportunity (LAGO) was a short-term program designed to assist USAID/Lebanon in developing a new strategic objective, Economic Equality in Utility Investment Transferred into Yields (EQUITY). VEGA utilized the extensive technical expertise of our Volunteer Advisors, in-country staff, and Advisory Board members to explore the structural and social means by which Lebanon might achieve accelerated economic recovery, improved living standards and education, increased political stability and municipal governance capacity, improved environmental practices, and strengthened institutions.

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