More funds to support SMEs in Lebanon

As part of boosting small and medium-sized businesses in Lebanon, Societe Generale de Banque au Liban (SGBL) signed an agreement yesterday with the International Finance Corporation (IFC), a World Bank Group member. Under the agreement, IFC provides USD 100 million in facilities to SGBL aimed at easing access of SMEs to finance and help in developing climate finance. The IFC funding system consists of two loans: a USD 57.16 million loan from the IFC account and a USD 42.84 million created by the IFC through its MCPP program. IFC’s advisory group will also support SGBL to strengthen its finance climate and help in mitigating the impact of climate change. In the same vein, the minister of telecommunications in the caretaker government, Jamal Jarrah, stressed the need to boost SMEs through supporting national economy.  Jarrah was speaking during the opening of Alfa’s 13th flagship store in Bekfaya. (Al Mustaqbal, Al Diyar, December 20, 2018)
 

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