Manella Mahfouz is an entrepreneur in the catering sector who participates in the Convenio for economic strengthening and social stability that is being implemented in vulnerable and displaced local communities in southern Lebanon, funded by Spanish Agency for International Development Cooperation (AECID).
This Convenio, developed by the Social Promotion Foundation in consortium with the NGO AIDA and together with the local partner ADR, has as its main objective to promote the socioeconomic and sustainable development of women and young people in the communities of Tiro, Nabatieh, Bint Jbeil and Marjeyoun, in a context of growing political instability and economic crisis in the country.
Within the framework of this initiative, Manella has received a microcredit as part of the actions aimed at strengthening technical capabilities and supporting the productive ventures of people in vulnerable situations. These microcredits, whose amounts range between $500 and $3,000, are repaid monthly over a period of between 1 and 3 years, depending on the amount granted.
This financial support that Manella has received will allow him to improve and expand his catering company, generating new employment opportunities and promoting local economic development.
The historical background of this microcredit program dates back to 1998, when, with the initial financial support of the European Union and in collaboration with the Social Promotion Foundation, ADR initiated a microcredit program in southern Lebanon. The initiative sought to boost the economic development of the region, especially given the opposition of private banks to granting loans to vulnerable people.
The situation was complicated by the financial crisis, which led most banks to stop providing loans, to the detriment of self-employment, entrepreneurship and economic development in this area of the country.
In addition to the economic aspect, the Convenio also addresses social and environmental issues.
Among the actions planned to achieve this goal include activities such as the installation of solar panels for energy savings in homes, the strengthening of infrastructure through work with production groups by sectors of activity and the creation of Rapid Response Units at the level institutional to reduce risk and increase social cohesion.
Manella’s story exemplifies how these initiatives not only support individual entrepreneurs, but also contribute to the Convenio’s overall objective of promoting financial inclusion, strengthening the local economy and improving social stability in southern Lebanon.
This comprehensive approach, which includes specific measures for gender equality and environmental sustainability, reinforces the long-term positive impact on the country’s most vulnerable communities.
Specifically, it is expected that at least 600 women, both Lebanese and Syrian, will be able to access this type of microcredit. So far, the results are positive, with the granting of 8 credits in 2023 and an additional disbursement of 12 microcredits in January 2024. These achievements, without a doubt, contribute to the fulfillment of the objectives established in the Social Promotion Foundation Convenio in Lebanon.