Building Beirut Businesses Back & Better (B5) Fund (WB-P176013)

Countries
  • Lebanon
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jul 30, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Kafalat SAL
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ WB website

Updated in EWS Oct 25, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

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:

  1. 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. 

  2. 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. 

  3. 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.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

World Bank:
Alexandre Hugo Laure
Senior Private Sector Specialist

Borrower:
Kafalat SAL
Khater Abi Habib
Chairman
khater@kafalat.com.lb

Implementing Agency:
Kafalat SAL
Khater Abi Habib
Chairman
khater@kafalat.com.lb 

ACCESS TO INFORMATION

To submit an information request for project information, you will have to create an account to access the Access to Information request form. You can learn more about this process at: https://www.worldbank.org/en/access-to-information/request-submission 

ACCOUNTABILITY MECHANISM OF THE WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. Information on how to file a complaint and a complaint request form are available at: https://www.inspectionpanel.org/how-to-file-complaint 

How it works

How it works