Sanad Fund signs a USD 2 millions agreement with Al Majmoo3a to support micro-finance

The Sanad fund for financing micro, small, and medium enterprises signed with the Lebanese Association for Development (Al Majmoo3a), a USD two millions loan agreement to support the plans of the latter organisation and aiming at strengthening and broadening the scope of its work in support of micro-enterprises. The executive director of Al Majmoo3a, Youssef Fawwaz, stressed in a speech delivered on the occasion that this agreement highlights the important role that his micro-finance organisation plays in the sustainable development of Lebanon, through empowering individuals with limited income, particularly owners of small enterprises and women, while providing them with financial and non-financial services which otherwise they are unable to directly access from the banking system.
Source: Al-Safir, National News Agency 6 June 2013