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PRESS RELEASE

U.S. GOVERNMENT DEVELOPS RURAL ENTERPRISES

Friday, July 17, 2009

Beirut, Lebanon

The United States Agency for International Development (USAID)/Lebanon Mission Director Denise A. Herbol participated in three economic growth grant signing events for the Lebanon Investment in Microfinance project this week.  The three recipients were the Volunteers for Economic Growth Alliance Lebanon Investment in Microfinance-International Executive Service Corps and Ameen in Baabda on July 13, Al Majmoua in Aley on July 15, and the Association of Rural Development in Jounieh on July 17.

The $1,050,000 in grants, part of the $1.6 million project, provides loans, products and services to micro-enterprises that do not normally have access to capital.  Through this project, businesses are developed and sustained, creating job opportunities for citizens.

The Lebanon Investment in Microfinance project is only one of the projects USAID supports to increase economic growth in Lebanon.  The Lebanon Business Linkages Initiative, a $4.5 million project, assists in the information and communication technology, tourism and agribusiness sectors.