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.
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.
Provide seed funds; coaching & technical assistance on fundamentals like credit policies & procedures, client/business selection, bookkeeping, financial management; establish grassroots, sustainable microfinance institutions.
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.
"We started in 1998 with $15,000 in capital to set up a credit fund for landmine victims & people with special needs. To date around 100 persons have been granted loans--much beyond our expectations."
- Nada Ismaeil, Caring for the Handicapped Charitable Association
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.
This project has provided additional documentation in a PDF file (projdoc.pdf).
Thanks to 4 donors like you, a total of $160 was raised for this project on GlobalGiving. Combined with other sources of funding, this project raised enough money to fund the outlined activities and is no longer accepting donations.
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