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An ARIZ TPE MINKA guarantee to the microfinance institution Vitas Lebanon to support entrepreneurship
Project
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Signature date
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Location
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Lebanon
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Financing tool
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Financing amount (Euro)
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2300000
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Financing details
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USD 2.58m ARIZ guarantee
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Customer
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VITAS LIBAN
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Type of customer
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Microfinance
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Project number
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CLB1124
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco PROPARCO has allocated a USD 2.5m ARIZ TPE MINKA guarantee to Vitas Lebanon which wants to develop its lending activity to microenterprises and small and medium-sized enterprises in vulnerable regions in the country.
Client presentation
Vitas Lebanon is the third largest microfinance player in the country, with 27,000 clients, and only allocates personal loans. Vitas operates nationwide in Lebanon, with some 16 branches in the country and its headquarters in Beirut. The institution has 291 employees, including 244 in the field.
Project description
The objective of the USD 2.58m ARIZ TPE MINKA portfolio guarantee is to support the growth of Vitas’ activity for MSME clients in Lebanon. This portfolio guarantee specifically targets MSMEs in crisis areas. It is thereby promoting access to financing for these companies with high risk profiles in extremely fragile situations, while covering a significant number of small loans.
Project impact
This guarantee will facilitate access to financing for young entrepreneurs under 30 in particularly vulnerable regions in Lebanon (North, Akkar and Bekaa) and in Beirut.