Reinforcing Med Microfinance Network System for Start-ups

ReSt@rts project advances in strengthening the network of microfinance organizations

ReSt@rts project partners have recently met to discuss further steps for Capitalizing on the Network of Micro Finance Organizations active in partner countries. The network was built within the framework of Medst@rts project

To strengthen and extend the network of microfinance organizations between partner countries, a Microfinance Providers’ Association will be established to act as a long-lasting institutional tool. This action foresees the foundation of the Association among microfinance organizations in target areas.  

The objectives of the Association aim at: 
1-    Supporting the growth and improvement of the business ecosystem in the Euro–Med area.
2-    Supporting the improvement of applied financial instruments and the development of new approaches and policies for expanding access to credit for SMEs and entrepreneurs. 
3-    Developing non-credit products and services schemes necessary for building the business skill and capacity of innovative MSME sector, particularly in the eco-business, and those supporting the social and solidarity-based economy.  

Recently, the statute of the association is drafted and will be signed once approved by founding members. Admission to the assembly members is open to all local community and business entities and associations who have the intention to support the SME sector.

The Microfinance Providers Association offers opportunities to help potential multi-talented entrepreneurs in the region chase their goals and achieve their dreams. In parallel, the association explores niches and acts as a catalyst for the Microfinance sector.  

Meetings and negotiations on this issue are in progress between the Chamber of Commerce, Industry and Agriculture in Sidon and south Lebanon, the Project Lebanese partner, local Microfinance organization and other stakeholders. 

ReSt@rts is a part of ENI CBC Med and its partner’s ongoing efforts to empower people with an entrepreneurial spirit and facilitate their outreach to inclusive and sustainable opportunities while fostering region-wide development and cooperation throughout.

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