British initiative to promote businesses, employment in Lebanon

In its edition of January 17, An Nahar drew attention to the Lebanon Enterprise and Employment Program (LEEP) funded by the British Department for International Development (DFID). Said program, to recall, supports small and medium enterprises through the provision of funds and mentoring in business development with the aim to help them grow and stimulate employment. According to An Nahar, the above program partners with banks and financial institutions involved with small loan programs, as well as providers of business development services (BDS). It seeks to help beneficiaries who got business loans last year worth of USD 8000 and 7500 to receive a grant 50% of the loan value. Beneficiaries are expected to benefit from BDS services offered by specialists to help them implement and activate their business plans and access new markets, in addition to support in management and the creation of jobs. The program reportedly stresses gender-based equality to strengthen social integration of women. In this respect, the head of the program’s action team, James Carty, explained that the UK government has designed the program to help SMEs in Lebanon which represent the backbone of national economy. This, he said, could infuse a major outlet for the country amidst the critical economic situation.(An Nahar, January 17, 2020)