THE LEBANESE ASSOCIATION FOR DEVELO
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
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 Lebanese Association for Development, Al Majmoua, is the no. 1 MFI in Lebanon. Al Majmoua’s activities started by providing group loans to women in urban and rural areas. Over time, Al Majmoua developed its product offering 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 empowerment of women.
What is our funding objective?
This project aims at securing systems and ensuring the continuity of services, during and after COVID-19, to Al Majmoua’s financial services’ clients and non-financial services’ beneficiaries by renewing the subscription cost of the licenses that Al Majmoua uses to conduct daily business.
Why do we fund this investment?
FMO is funding this project as part of the Emergency Grant Facility, a support facility that was launched to help FMO’s clients and investees to battle the negative effects of COVID-19 on their business, staff and surrounding communities. As Al Majmoua is currently not able to renew these licenses because of the capital control that forbids international payment, a number of operating systems could not be sustained without the availability of this grant.
More investments
| Date | Total FMO financing |
|---|---|
| 5/24/2023 | USD 1.00 MLN |
| 6/11/2018 | USD 5.00 MLN |
- Region
- Asia
- Country
- Lebanon
- Sector
- Financial Institutions
- Effective date
- 7/24/2020
- End date
- 11/24/2021
- Total FMO financing
- EUR 0.07 MLN
- Funding
- MASSIF
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C