العربية
Microfinance Stakeholder Roundtable and Presentation of
CGAP- CRI- LMFA study, “Impact of Economic and COVID-19 Crises on Microcredit Borrowers”.
The Lebanese Micro-Finance Association (LMFA) with the support of its nine members, its partner USAID – Funded LIFE Project, organized a virtual roundtable on December 16th, 2020. The roundtable discussed a study entitled “Impact of Economic and COVID-19 Crises on Microcredit Borrowers” funded by CGAP and performed by CRI Lebanon
Many stakeholders attended the roundtable, such as representatives from Palladium Group, World Bank, EBRD, EIB, Proparco, Finance in Motion, IFC, WFP, UNDP, PPI, AMIDEAST, and Expertise France.
The conducted study reflects an analytical understanding of the repercussions of the crisis on the MFIs beneficiaries,their coping mechanisms, in order to apply the gathered data in methods to keep the sector operational and sustainable:
The study both measured and monitored the direct impact of the successive crises on microfinance clients, be it home-based businesses, informal enterprises, or small formal companies and employees.
It addressed major issues including: The decrease of income for Lebanese micro-credit borrowers and their households, the failure of microbusinesses to sustain their basic needs for more than one month, the fact that women were affected more than men in terms of unemployment, the surge of unemployment overall and decrease in sales and revenues among microbusinesses in Lebanon, the anxiety levels rising up to alarming level, and the inability to pay debts, rent, essential expenses added to the lack of health coverage, which raises the dependency on aid.
The roundtable was concluded with the LMFA board members expressing their interest in collaborating with the stakeholders to discuss potential solutions, and to develop the best activities and plans to support the sector, service providers and beneficiaries alike. The guests in return showed high appreciation for the eye-opening presentation, discussion and results.
“Our success is our clients’ success, our fortune is their trust, and our main goal during hard times is to support them, to advocate for their rights to inclusion and best services”. (LMFA)
To download the Study CLICK HERE