Original disclosure @ WB website
Updated in EWS Oct 25, 2021
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According to bank documents, the project objective is to support the recovery of targeted micro and small enterprises (MSEs) and sustain the operations of eligible MFIs.
The project has three components:
Component 1 – Grants to Micro and Small Enterprises. This component will provide grants to eligible MSEs that have been affected by the Beirut port explosion. It will award non-reimbursable grants to eligible MSEs, including self-employed, regardless of whether they are formal or informal. It is expected that at least 30% of selected MSEs will be women-owned or -led (WOL). Efforts will also be made to identify and support entrepreneurs and businesses who directly or indirectly suffer from a disability due to the blast.
Component 2 – Grants to Microfinance Institutions. . This component will provide self-sustainability grants to microfinance institutions (MFIs) to
preserve the microfinance sector and its capacity. MFIs have decades of experience serving micro and small businesses, low-income populations, and the informal sector at large. This component will help MFIs stand by the communities they serve and bounce back during the time of multiple crises. Initially, this component will help eligible MFIs sustain their activities by covering part of their operational expenses for an average of 9 months.
Component 3 – Project Management and Gender Support. This component will finance project management costs over the project life. Kafalat will be the Project Implementation Agency (PIA). Costs of the PIA include management and consultancy fees, operations and administrative costs for the management and supervision of the project activities. Project funds will support the PIA costs for the following: Gender capacity building support to beneficiary MSEs, conducting assessments and analysis, citizen engagement activities, monitoring and evaluation (M&E), safeguards monitoring and review, legal, accounting, auditing, financial management and gender.
Alexandre Hugo Laure
Senior Private Sector Specialist
Khater Abi Habib
Khater Abi Habib
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