This project provides a risk guarantee to BLC Bank. With this guarantee, the project aims to encourage the bank to loan to small and medium sized businesses across Lebanon.
The proposed project is expected to have the following development impact:
(i) Enhance access to finance to underserved segments of the SME sector, such as women entrepreneurs and very small enterprises, thus enabling them to grow and expand their business and continue to play a key role in supporting Lebanon''s economic growth and job creation;
(ii) Support a local bank to maintain and expand its SME business market share. This is especially critical at this juncture given the uncertainties in the region and the economic slowdown in MENA and Europe, which is affecting Lebanon;
(iii) Attract private sector investment flows and promote SME finance as a viable asset class; and
(iv) Support the Bank in scaling up the SME sector especially small businesses, including very small and women-owned enterprises businesses, and to anchor its position in the market.
Established in 1950, BLC Bank is a commercial bank in Lebanon headquartered in Beirut. The Bank offers a wide range of financial products and services to corporate, retail, and SME segments through a well-established and growing network of 41 branches across Lebanon, a representative office in Abu Dhabi, UAE and 14 branches in Cyprus through its wholly owned subsidiary USB Bank plc.
Mr. Hani Hoyek
Head of Strategic Development – BLC Bank
Address: BLC Bank Building, Adlieh Square
2064-5809 Beirut, Lebanon
Telephone: +961-1-387000 Ext. 1328
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/