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.
The Lebanon Investment in Microfinance program will provide and administer grants ranging between $350,000 and $600,000 to capable microfinance institutions, NGOs and other providers of micro-credit loans. These institutions will then disburse the 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 of member organizations including the Financial Services Volunteer Corps (FSVC) and the International Senior Lawyers Project (ISLP).
IESC will identify microfinance institutions with proven ability to channel loans to qualifying borrowers, monitor and track the loans and collect impact data. These loans will be utilized to establish new businesses and build capacity in existing businesses in rural and peri-urban areas of Lebanon. The program expects to deliver micro-loans, increase incomes and create jobs within the first quarter of implementation.
In addition to delivering grants, the program will also provide cost-effective technical assistance to MFI subgrantees, covering topics such as MFI loan officer training and improvement of business development services. Specifically, the Financial Services Volunteer Corps will provide technical assistance on microfinance industry best practices while the International Senior Lawyer's Project (ISLP) will supply assistance on MFI legislative and regulatory issues in order to enhance regulation and cooperation among microfinance institutions in Lebanon.
| Mr. Handley (center back) and LIM Chief of Party, Mr. ElZein (center front) with representatives of cooperatives and AlMajmoua Agricultural Engineer (far right) |
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.
