The Lebanese Association for Development - Al Majmoua
Status: Approved investmentWhy disclosure?
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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 (“AM”) is/was the largest microfinance institution (non-deposit taking) in Lebanon, which was founded by Save the Children in 1994, and started its activities by providing group-loans to women in urban and rural areas. AM has a non-profit organization status, in the legal form of a foundation
What is our funding objective?
The objective of the funding is to provide support to AM to ensure business continuity by providing operational support and capital to build a “fresh” USD portfolio.
Why do we fund this investment?
This project fits well with FMO’s strategy of improving economic inclusion for the bottom 40 as well as investment in fragile contexts. It also sits firmly within Massif’s priorities of providing support to the unbanked as well as W(M)SMEs and promoting financial inclusion. This funding further goes a long way in ensuring business continuity and the survival of a strategic local intermediary that is well positioned to provide and scale access to finance to MSMEs in Lebanon. In addition, through supporting further on-lending to MSME’s, the funding contributes to sustainable livelihoods, job creation and economic growth. This project is also a good example of how FMO, under our pioneering strategy can support market rebuilding / rehabilitation of strategic projects in our existing portfolio for which we have built a good relationship (more than a bank).
More investments
| Date | Total FMO financing |
|---|---|
| 11/24/2021 | EUR 0.07 MLN |
| 6/11/2018 | USD 5.00 MLN |
- Website customer/investment
- https://www.almajmoua.org/
- Region
- Asia
- Country
- Lebanon
- Sector
- Financial Institutions
- Publication date
- 7/25/2023
- Effective date
- 5/24/2023
- Total FMO financing
- USD 1.00 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