Microfinance development

USAID trains officers from microfinance institutions on serving micro enterprises

The U.S. Agency for International Development (USAID) awarded (on November 17) training certificates to 180 microfinance loan officers from nine local microfinance institutions and two local banks.

The certificate was granted for completing technical training under USAID’s Lebanon Investment in Microfinance (LIM) program. The training program worked to improve loan management and increase the capacity of lenders to profitably serve small businesses.

LIM is a six-year, $12 million program funded by the USAID.

The program aims to help micro-finance institutions extend funds, as loans and services, to micro enterprises, or individuals, that do not normally have access to capital.

Among the micro-finance institutions involved in the program are: AlMajmoua, Emkan, Makhzoumi Foundation, Lebanese Cooperative for Development (CLD), Association of Rural Development (ADR), Association d’Entraide Professionnelle (AEP).

USAID launched LIM in May 2009.

The program has provided loans to over 3,500 small businesses in the fields of agribusiness, tourism, and information and communication technology (ICT).