Establish 4 revolving credit funds run by community-based Lebanese organizations, providing loans for small enterprises, often household-based, to help poor families in war recovery & self help.
What is the issue, problem, or challenge?
Torn apart by last summer's war & w/ unemployment over 40%, credit is needed for projects too small & insecure to attract usual financial institutions. Unmet capital needs of poor create lost opportunities, marginalized economic participation, and poverty. With credit, poor families can harness existing skills & resources to meet their immediate needs & create future prospects.
How will this project solve this problem?
Provide seed funds; coaching & technical assistance on fundamentals like credit policies & procedures, client/business selection, bookkeeping, financial management; establish grassroots, sustainable microfinance institutions.
Potential Long Term Impact
Creation of many revolving credit funds run independently by local nongovernmental organizations serving the entire country. Strengthening their ability to help people enhance their incomes & participate in rebuilding their country.
Total Funding Received to Date: $160
This project is now in implementation and no longer available for funding. Received funds will be used to accomplish concrete objectives as indicated in the project's "Activities" section. Updates will be posted under the "Project Report" tab as they become available.
Donors' contributions and pledges to this project totaled $160 . The original project funding goal was $29,000.