ESFD creates new jobs during the third quarter of 2014

According to a statement issued last week, the Economic, Social Fund for Development (ESFD) has supported 123 new projects during the last quarter of 2014 of a total value of LBP 3.46 billion, and thus creating 125 new employment opportunities.  These projects were supported from ESFD job creation component which works with local development unit to combat poverty and mitigate its impact on vulnerable communities.  With these latest figures, the total number of credits provided to SMEs since the initiation of the ESFD in 2003 and until December 2014 has risen to 8299 credits corresponding to LBP 137.6 billion, and resulting in the creation of 5853 new jobs. To be noted that ESFD was formed within the framework of European partnership, and through a financing agreement signed in November 2000 between the Lebanese government represented by the Council for Development and Reconstruction and the European Union.

 

(Source: Al-Mustaqbal and Al-Diyar 17 January,2015)