Loan Initiative for Financial Transformation - LIFT 2

Initiated in 2012, LIFT 2 represents MIF's second wave of its microcredit initiative, designed to bolster local community capabilities and support residents in remaining in their hometowns. This project specifically targeted small businesses and artisans in the Byblos region, offering a combination of interest-free loans and grants. As a result, MIF covered the interest rates, loan insurance, and the application fees on behalf of all beneficiaries, aiming to nurture the growth and sustainability of small businesses and artisanal ventures in the region.

Collaborating with Vitas, a reputable microfinance institution, and Fransabank to facilitate the efficient distribution of funds, MIF aimed to stimulate economic development across various sectors, including industry, agriculture, commerce, services, and crafts. By doing so, it sought to create diverse opportunities for self-employment and income generation. LIFT 2 actively contributed to the sustainability of beneficiaries, encouraging them to invest in their communities and reduce migration to larger cities.

Overall, LIFT 2 exemplifies MIF's commitment to enhancing local community capabilities and promoting sustainable economic development. By empowering small businesses and artisans, the project contributed to the overall prosperity and resilience of the Byblos region.