According to bank documents, OPIC will expand its back-to-back investment guaranty to Global Communities in support of Global Communities’ guaranty of microenterprise, small business, home improvement, consumer finance, and education loans made by the Project Company to qualified borrowers in Lebanon. With a target to serve over 42,000 clients by 2022, the Project supports financial
inclusion, private business development, job creation, and income, standards of living, and economic growth in Lebanon. Although Lebanon has a relatively advanced commercial banking system, loans for microenterprises and small businesses, which comprise an estimated 90% of businesses in Lebanon, are not widely available, and the Project will assist in addressing this challenge.
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*Contact information not provided at the time of disclosure*