Grameen – Jameel new support to the micro-credit sector in Lebanon via Al Majmooa

Grameen – Jameel fund recently provided loans totaling USD 2 million to micro-finance institutions divided equally between the Microfund for Women (MFW) in Jordan and al Majmooa in Lebanon.  This new contribution is intended to support both organisations in increasing their spread and reach and higher number of loans in both countries as well as increasing the size of micro finance in the Middle East and North Africa region.  This new financial input from Grameen – Jameel is an important step that will increase the microfinance portfolio of both organisations and hence will allow access to loans to more than 3500 needy families in Jordan and Lebanon.  
To be noted that the Grameen fund enjoys a strategic partnership with Al Majmooa since 2007, thus enabling Majmooa to provide  financing, training and technical assistance in various vital aspects such as ICT, human resources and products development.
Source: Al-Nahar 31 December 2013