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PRESS RELEASE

USAID, RELIEF INTERNATIONAL AND BYBLOS BANK LAUNCH SMALL BUSINESS LOANS PROJECT

Thursday, December 18, 2008

Beirut, Lebanon

The United States Agency for International Development (USAID)/Lebanon Mission Director, Denise A. Herbol, witnessed the signing of the Memorandum of Understanding between Relief International and the Byblos Bank on December 15.  This memorandum is part of  USAID’s $7 million Municipal Capacity and Service Delivery program which encourages municipalities to play a fundamental role in supporting and implementing projects that enhance citizen participation, create jobs and foster private sector investments.

Relief International will cooperate with the Byblos Bank to facilitate the process of providing loans to small businesses.  The program will operate in 130 municipalities in the areas of Akkar, Jbeil, Jezzine, East Sidon and Nahr al Barid.  The goal is to stimulate economic growth in eco-tourism, agriculture, handicrafts, and information and communication technology.

USAID has worked in Lebanon since 1951 and implemented development projects to benefit Lebanese citizens. With funds from the American people, USAID creates jobs, invests in youth and protects the environment.  USAID’s work reflects the strong friendship between the Lebanese and American people.