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TunisiaEBRD and donors support the growth of Lebanon’s start-ups
Since its inception in 2018, thanks to generous funding from the European Union and, more recently, the Republic of Korea through the Small Business Impact Fund (SBIF), the EBRD has supported more than 150 small enterprises in Lebanon with business advice through its Advice for Small Businesses programme.
To date, and despite the exceptionally challenging environment, 43 per cent of the companies in Lebanon supported with advisory projects reported an increase in their turnover, 46 per cent grew their exports and 51 per cent increased their number of employees. These numbers, in addition to tailor-made activities designed to respond to the economic collapse, demonstrate the EBRD’s strong contribution to alleviating the multi-faceted crises the country is currently facing.
Furthermore, in 2021 the EBRD added Star Venture – a programme dedicated to supporting the growth of innovative, high potential start-ups – to its offerings in Lebanon. As the economic and financial crises continued to unfold, and the focus shifted to much-needed emergency support, the EBRD strengthened its support for the local entrepreneurial ecosystem, understanding how vital it is to revitalising the Lebanese economy.
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Countries covered:
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Lebanon
