Lebanon Establishes First Microfinance Association

18 Mar 2015

Lebanon's Ministry of Interior and Municipalities approved the creation of the nation's first microfinance association. The new association is made up of eight MFIs that will work to strengthen the microfinance sector and increase access to finance for micro and small business owners throughout Lebanon. It will also promote communication and coordination among the member institutions, conduct market research, provide training, and other services to microfinance professionals, and raise public awareness about microfinance in Lebanon. 

The petition to establish the association was sponsored by the Lebanon Investment in Microfinance Program (LIM), an economic development program funded by the United States Agency for International Development. The founding members of the association, all of which received technical assistance through the LIM Program, include the following: Association for the Development of Rural CapacitiesAssociation d'Entraide ProfessionnelleAl MajmouaEntrepreneurial Development FoundationEmkanIBDAAMakhzoumi Foundation, and Vitas. “Lebanon’s leading microfinance institutions have come together to improve financial services for the most vulnerable Lebanese citizens,” said Mahmoud Elzein, who leads the LIM program.