MAKING CENTS INTERNATIONAL
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
The contracting entity for this project is Making Cents International, and the beneficiary of the project is The Lebanese Association for Development, Al Majmoua and their clients. Al Majmoua is the no. 1 MFI in Lebanon and their activities started by providing group loans to women in urban and rural areas. Over time, Al Majmoua developed its product offering by adding individual loans, which is now its core financial product. In addition, Al Majmoua provides free business development services and socially oriented activities, with a focus on the empowerment of women.
What is our funding objective?
The objective is to establish a partnership between Al Majmoua and one or more MFIs based in the Philippines, aiming at a productive cooperation that will benefit Al Majmoua’s migrant worker clients. The project focuses on Filipino migrants enabling them to set up a business when they return home. It contributes to FMO’s impact objectives of inclusive development, focusing on a minority: migrant workers in Lebanon. It supports Al Majmoua in their social mission to strengthen the livelihoods of vulnerable populations and to address the specific needs of their beneficiaries. This project aligns perfectly with MASSIF’s mandate and the project has the potential to be replicated for migrant workers coming from other countries than the Philippines.
Why do we fund this investment?
It contributes to FMO’s impact objectives of inclusive development, focusing on a minority: migrant workers in Lebanon. It supports Al Majmoua in their social mission to strengthen the livelihoods of vulnerable populations and to address the specific needs of their beneficiaries. This project aligns perfectly with MASSIF’s mandate and the project has the potential to be replicated for migrant workers coming from other countries than the Philippines.
More investments
| Date | Total FMO financing |
|---|---|
| 2/13/2023 | EUR 0.02 MLN |
| 1/11/2022 | EUR 0.09 MLN |
- Region
- Asia
- Country
- Lebanon
- Sector
- Financial Institutions
- Effective date
- 7/26/2019
- End date
- 6/8/2022
- Total FMO financing
- EUR 0.02 MLN
- Funding
- MASSIF