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FARO-Lebanon launched its fund towards strengthening small and medium enterprises || Newspapers (Arabic)

13-02-2013

The President of the Federation of Lebanese Chambers of Commerce, Industry and Agriculture, the head of Beirut and Mount Lebanon Chamber of Commerce, Industry and Agriculture Mohammad Choucair, launched the first fund of its kind aiming to strengthen small and micro enterprises with the support of FARO Lebanon "Le Fonds d'Aamorçage, de Réalisation et d'Orientation". The launch was made during a public inauguration event which held yesterday and was attended by the President of the Central Bank, Ryad Salameh.

FARO was set up as an initiative of the French government in order to strengthen economic development in the Mediterranean region through the creation of a fund to support creativity and innovation.  The Fund operates through a Mediterranean network led by the “Federation for Supporting Partnership between Small and Medium Enterprises”.  Lebanon is the first country to partake in this initiative after France with the understanding that the Chamber of Commerce, Industry and Agriculture of Beirut and Mount Lebanon will be the host and centre of FARO-Lebanon.

It is interesting to note that several public institutions and other relevant bodies contributed to designing the project and managing it whilst the Beirut and Mount Lebanon Chamber of Commerce, Industry and Agriculture is entrusted with ensuring that the support reaches the selected beneficiaries as per the recommendations of the project’s board.  The FARO fund will allow creative small and medium enterprises to apply for financing to strengthen their capacity and operation as well as request technical support to prepare work plans and to meet other needs.
Source: Al-Diyar, Al-Nahar 13 February 2013

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