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Al Majmoua is a microfinance institution (MFI) founded in 1994 by the NGO Save the Children. Al Majmoua is weathering the Lebanese economic crisis thanks to the non-financial services it offers in addition to financial services, such as training, coaching and support. The association has been able to reconvert part of its human resources to non-financial services. However, it was forced to drastically reduce its workforce and portfolio.
Lebanon has been experiencing a multi-sector crisis since mid-2019. This combination of economic, political and health crises (Covid-19) has pushed more than 80% of the population below the poverty line. The devaluation of the Lebanese pound, combined with the country’s heavy dependence on imports, is creating a situation of serious food insecurity. The country is bankrupt.
Al Majmoua is resolutely a high-impact MFI. Al Majmoua continues to play a key role in the country, despite the multi-sector crisis that is devastating the country. It is the leading MFI in the country for financial and non-financial services. It is the first MFI in the Middle East to provide financial access to Syrian refugees. It provides strong support for women, who make up more than 60% of its clientele, and for young people. It benefits from a very good brand image and has established strong links with municipalities, state services and local and international NGOs. SIDI, in consortium with ADIE, has set up a project – financed by AFD and the ACTES Foundation – aimed at supporting the agricultural sector with a view to ecological and social transition.
