Africa and the Middle East
Number of partners: 3 | Amount: US$5.5 million | Number of countries: 3
Case study: Lebanon
Lebanon has been greatly impacted by the Syrian crisis. Estimates suggest the crisis has driven an additional 200,000 Lebanese into poverty and up to 300,000 Lebanese into unemployment. There are also questions about whether the country’s housing is affordable and inclusive.
Lack of government regulation
Adding to the difficulty, according to data on microfinance outreach and average loan size, Africa and the Middle East rank lowest. At a national level, the microfinance sector is underdeveloped because of the lack of government regulation and the barring of institutions to take deposits.
One microfinance institution working to expand access to financing for the underserved in the region is Al Majmoua. It has the largest reach in Lebanon. They plan to grow their housing product even more by increasing individual targets for loan officers.