Micro credit Program
In partnership with the European Commission (EC), and with the support of one of the largest Lebanese banks, Bank Audi, ADR launched a Micro credit program in the area of south Lebanon in 1999. The grants received from EC were to be disbursed throughout Tyre, Bent Jbeil, Marjayoun and Hasbaya.
The main objective of the program has been to improve the economic opportunities of the low-income urban and rural population by offering reliable financial services to those that can not access the banking system.
In 2006 the management of Bank Audi decided to apply certain dispositions of the Lebanese Central Bank circular number 93 issued in 2004. Bank Audi will lend ADR with a preferential interest rate from their legal reserves helping ADR to expand its outreach and growth to become an even more active player in the market.
Since its inception the Microcredit Program has disbursed more than 6,100 micro loans of approximate value US$ 13.1 million.
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