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New fund to support SMEs in the region


The private equity fund management company in the MENA region, Emerging Investment Partners, announced that EIP Levant Fund, has received capital commitments from the International Finance Corporation (IFC) which is a member of the World Bank Group and from the Dutch Good Growth Fund (DGGF). EIP said the fund, with a size of USD 50-60 million, will conclude the first phase of commitment in the first quarter of 2018, with the participation of regional and international investors. The EIP Levant Fund aims to deploy its capital in the first 3 to 4 years in 8 to 10 small and medium enterprises (SMEs) in Lebanon, Egypt, Jordan and Iraq, with USD 5-8 million investment in each project. To note, the EIP Fund is interested in targeting SMEs in a number of export-bound sectors that are resilient and able to grow in the midst of harsh economic conditions, including healthcare, education, agribusiness, industry, trade, supply and logistics. It will also contribute, through its investments, to making an impact on local communities through furthering economic development and job creation. EIP CEO said the company believes “in the valuable investment prospects in Lebanon and the region”, noting that it will select existing successful and high growth potential companies and help them to expand the scope of their businesses in the Middle East and North Africa. (Al Akhbar, Al Hayat, February 1, 2018) Previous related news: Nine of ten companies in Lebanon are SMEs Berytech to support SMEs with EU funding Roadmap to develop SMEs and for greater employment The Lebanese Women Angel Fund up and running

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