BLC SME RSF (IFC-36295)

Countries
  • Lebanon
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 15, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
BLC BANK SAL
The holder of the loan, grant, or other investment.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported
Converted using 2016-03-15 exchange rate.
Project Cost (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported
Converted using 2016-03-15 exchange rate.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 31, 2018

Disclosed by Bank Nov 23, 2015


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

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.

People Affected By This Project

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.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

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.

Contact Information

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
E-mail: mailto:Hani.Hoyek@blcbank.com

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/