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.
Program Summary
The Lebanon Investment in Microfinance program administers and provides grants ranging between $350,000 and $600,000 to selected microfinance institutions, NGOs and other providers of micro-credit loans. These institutions will then disburse loans to micro-enterprises in the tourism, ICT and agribusiness sectors. To meet the goals and objectives of the program, VEGA's member organization, the International Executive Service Corps (IESC) is leading the program with a mobilized team MFI partners, Almajmoua, Ameen, and ADR.
Results/Deliverables
- The Program's original $1,050,000 fund disbursed through grants to the three partner Micro Financing Institutions have grown thus far to $2,089,132.
- The MFIs were selected on the basis of their capacity and efficiency to manage grant funds.
- Through the three MFI partners, the program disbursed a total of 1,317 micro loans to 1,317 businesses comprised of 996 male borrowers and 321 (24.4%) female borrowers.
- As a result of the 1,813 full time jobs created, 1,246 are held by men and 567 (31.27%) are held by women.
| Mr. Handley (center back) and LIM Chief of Party, Mr. ElZein (center front) with representatives of cooperatives and AlMajmoua Agricultural Engineer (far right) |
Meet the Lebanon Investment in Microfinance Program Beneficiaries
Quarterly Progress Report - June 30, 2010
For more information on USAID/Lebanon, please visit http://www.usaid.gov/lb/.
Additional Information
PRESS RELEASE: USAID Lebanon, "US Government Develops Rural Enterprises" - July 2009
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. In developing the EQUITY Strategic Objective, VEGA incorporated two core values, good governance and community participation, while consistently focusing on the effects of decentralization and capacity building to ensure effective municipal governance that will promote growth and stability.
Program Objective
In order to develop USAID/Lebanon’s EQUITY Strategic Objective, four main tasks were envisioned: 1) rapid start-up; 2) community planning assessments; 3) leverage of other programs and resources; and 4) development and documentation of proposed EQUITY strategy. The four tasks were implemented through the following program activities:
- Develop caza selection criteria, identify cazas for participation, and design city survey and needs assessment.
- Identify and interview stakeholders, conduct rapid socio-economic assessments, and create a directory of NGOs and LGSOs.
- Examine potential links to other USAID programs, examine potential links to other donor programs, and develop models of collaboration.
- Examine issues and possible solutions, develop action plan and intermediate results for EQUITY, and create draft and final strategy.
Use of Volunteers
VEGA assembled a team of industry experts, municipal governance specialists, and local consultants who worked together to produce a comprehensive and useful strategy for USAID. Field-based staff in Lebanon consisted of a Project Lead, a USAID Strategy Expert, a Team Leader, four technical specialists, and two local consultants. VEGA also convened an Advisory Board to offer guidance throughout the duration of the project. The volunteer-based Advisory Board was comprised of senior advisors all of which have significant experience with USAID strategic objectives and operations, strategic management and with Lebanon itself.
