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Economy & Development

At Fransabank, we believe that small-scale lending can make a difference in the world. In this vein, Fransabank adopted and implemented an aggressive​ micro-financing approach helping to forge progress in eradicating poverty. 

Great Achievements from Small Gestures

Great Achievements from Small Gestures
Can small-scale lending make a difference to the world? At Fransabank, we believe so wholeheartedly. In this vein, our Bank adopted and implemented an aggressive micro financing approach helping to forge progress in eradicating poverty. Fransabank “Ameen” and “Maan” micro credit loans, as well as "Najah Loan" were launched as part of the Bank’s commitment to the balanced development and growth of the economy through support to low-income individuals. This is achieved through well-perceived business venue that mandates dedicating specialized teams who conduct one-to-one business field visits to potential and existing beneficiaries. The team members are intentionally selected from the suburban areas. They know exactly the needs and wants of the community. Moreover, we provide them with training to promote development ethics based on rigor, creativity, understanding and respect for the rural environment. The team members are always in direct contact with the NGO’s operating in the rural areas and ensures sustainable development and optimal results.

Specifically targeting areas outside the capital, such as the Bekaa, the South, the North, Mount Lebanon and Jbeil, “Ameen” and “Maan” micro credit loans offer flexible conditions that enable individuals to develop their own small-scale businesses or improve and expand their existing ones.

Spreading the Wealth

Spreading the Wealth
When Fransabank launched its Maan micro-credit program in 2008 it made a promise to offer loans in the form of full grants or at 0% interest. This promise took shape in 2009 with details announced at a press conference held in collaboration with JADCO, the Association of Mayors of Byblos Towns and "Ameen" company. During the press conference, the first 100 beneficiaries of Fransabank’s promise were named: 25 of these received their micro-credit loan in the form of a grant (reaching a total value of LBP 37,500,000), while the other 75 received their loan with 0% interest (with an accumulated value of LBP 112,500,000).

Fransabank took the opportunity of the press conference to announce its plans to build on this initial phase. The Bank promised that the recipients in Jbeil would act as a role model for micro-finance beneficiaries in other remote areas across the country. Fransabank succeeded to expand this generous and groundbreaking initiative to other Lebanese regions as part of its strong commitment to “spread the wealth” and to help as many individuals as possible regardless of their location.

Empowering Women

Following the same strategy of the commitment to the national economy, Fransabank was compelled to work on the empowerment of women in the community. In this context, the Bank signed a cooperation agreement with the National Commission for Lebanese Women NCLW to provide financial facilities to Lebanese Women. This cooperation agreement resulted in the launch of the FIRST of its kind “women-targeted” loan in Lebanon: “Najah Loan”. This loan allows women to enhance the standards of living of their families through the development of businesses that contribute to the growth of the national economy in the industrial, services, tourism and trade sectors, while benefiting from reduced interest rates and various facilities such as extended grace and repayment periods. The total allocated amount for the “Najah Loan” is LBP 1 billion.

Supporting Business and the Economy

By promoting entrepreneurship, we continue our commitment to furthering Lebanon’s economic growth and supporting small business owners. In 2007 Fransabank pledged USD 1 million to non-governmental organization (NGO) Bader for its Building Block Equity Fund. Bader was launched with the aim of inspiring and boosting the morale of the young generation, providing encouragement and financial support to entrepreneurs, promoting entrepreneurial education and introducing new financial tools to support small and medium size enterprises (SMEs). The Building Block Equity Fund was Bader’s first major initiative to bridge the gap in funding to start-ups and entrepreneurs. Through donations such as Fransabank’s, the Fund was used to invest in Lebanese small and medium size enterprises (SMEs) that demonstrated potential for innovation, in order to help them forge sustainable growth. Fransabank’s commitment to entrepreneurialism has also taken shape through Berytech, in which the Bank is a partner and shareholder. Berytech’s aim is to foster economic growth through providing incubation, support and hosting opportunities to the largest possible number of project holders as well as growing enterprises operating in the fields of technology, multimedia and health. In its own words, Berytech sees its contribution to society as setting into action “a vibrant micro-economy characterized by sharper competitiveness on the national and international levels” as well as offering easier and faster access to funding and enabling Lebanon to become a technological showcase in the region.

Souad Ali Ahmadieh

After a long journey of ‘hide and seek’ through winding roads, we finally stepped into her small, neat and clean ‘mankoushe’ shop. We were looking for a client who would accept to cross social barriers and openly reveal their personal experience of micro finance. In Souad Ali Ahmadieh, we found not only this but an inspiring story of success. In her late forties, Souad has four children and an unemployed husband who suffers from chronic disease. The burden of single-handedly raising a family in a male-dominated society, and educating her children to turn them into effective individuals in society, never made Souad lose her smile that radiates with optimism and hope. Ambitious and proud, Souad states that the USD 2,500 micro credit she received from Fransabank “shortened the road to her dream” of enabling her children to pursue their education and of expanding her ‘mankoushe’ business.

Souad inherited the ‘mankoushe’ talent from her mom whom she used to help when she was a kid. As the responsibilities and demands of her family grew, especially after her husband resigned from work, Souad’s determination to find a solution for her family’s desperate financial situation grew further. She often knocked on the doors of traditional banks looking for any possible solution but with no result. An NGO in her small town heard her cry and directed her to Fransabank’s ‘Ameen’ micro credit loan.

Fransabank’s specialized team conducted a one-to-one field visit to Souad’s small ‘mankoushe’ business to evaluate her case. They assisted her in directing her capital and growing her current micro business. When added to the USD 1,200 she had saved penny by penny from the business, the Fransabank loan helped Souad buy a bigger oven, change her shop’s interior and build metal shelves to carry her new business line that included fresh drinks and chocolate along with other confectionary. By improving her production both quantitatively and qualitatively, Souad was able to increase her sales. Souad is particularly proud of that fact she was able to compete with two neighboring ‘mankoushe’ shops which ultimately ended up closing their businesses. We left Souad’s shop not only with a wonderful experience of the taste of her ‘mankoushe’ (which, in a savvy marketing move, she insisted we try so we could spread the word to others), but also with striking memories of a woman who withstood all social and financial barriers to fulfill her dream of giving her family a decent life. Her optimism, belief and faith make all of us at Fransabank extremely proud of any small initiative we can take to help individuals like Souad look forward to a better tomorrow. With just a small amount of money, major strides can be taken to not only improve lives but to empower women and reinforce their valuable role in society.​​

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