Leb MF Support

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 The investment proposal is for two senior loans totaling US$10 million. A senior loan up to US$5 million to Vitas SAL (Vitas) and a senior loan up to US$5 million to The Lebanese Association for Development - Al Majmoua (Al Majmoua or AM). The investment aims to providing support to the Two MFIs in Lebanon as a response to alleviate the impacts of the economic and humanitarian crisis faced in the country. Vitas has been a major player in the Lebanese microfinance sector since 1999. Vitas became a Lebanese microfinance service company in 2003 and in 2007 it became registered with the Central Bank of Lebanon. In 2012, Vitas became part of Vitas Group network, an international microfinance institution operating in multiple countries in the region. Vitas provide loans directly to its clients to support individuals and small businesses in aim to fostering long-term development. IFC started its business relationship with Vitas in 2010. Al Majmoua has been a major player in the Lebanese microfinance sector. It started its operations in 1997 to promote sustainable development by improving the economic and social conditions of low-income individuals, especially micro-entrepreneurs and women. Al Majmoua is an autonomous NGO operating solely in Lebanon. IFC started its business relationship with Al Majmoua in 2014.