United States Provides Training at Leading Microfinance Institutions

06-Dec-2011 Categories: Press Releases

On November 17, 2011, the U.S. Agency for International Development (USAID) awarded
training certificates to over 180 microfinance loan officers and managers from nine local
microfinance institutions (MFIs) and two local banks for completing technical training under the
USAID-funded Lebanon Investment in Microfinance (LIM) program. Micro, small, and
medium-sized businesses carry out more than 90 percent of the economic activities in rural areas,
and this training program worked to improve loan management and capacity to increase jobs and
support growth. USAID is working with local partner microfinance institutions to facilitate and
increase access to finance to these companies, develop new loan products, and go further in these
disadvantaged areas.

The Certificate Award Ceremony was attended by over 80 individuals representing partner MFIs
in addition to the USAID Acting Mission Director, Mr. Timothy Alexander and IESC President
and CEO, and US Ambassador (Ret.), Mr. Thomas Miller.

Six USAID-funded LIM Program beneficiaries from different sectors were selected to share their
experience by highlighting the positive impact of the micro loans they received on their
businesses.

USAID launched the LIM program in May 2009, and since then has provided loans to more than
3,500 small businesses in agribusiness, tourism, and information and communications technology
sectors. This has resulted in the creation of over 5,000 jobs, a third of which have been filled by
women. The program is implemented the Volunteers for Economic Growth Alliance (VEGA)
consortium member, the International Executive Service Corps (IESC) to expand micro-lending
throughout Lebanon. Those interested in applying for microloans may contact the LIM program
in Beirut at 01-990234 or 239.

Lebanon Investment in Microfinance Program
International Executive Service Corps (IESC) -Lebanon
Downtown Beirut, Bazerkan Bldg.
Tel.:01-990234-239