Insure & Match Capital (IM Capital) launched a relief initiative under the name of “From my heart, support to Beirut” to help small and medium Lebanese enterprises, as well as families affected by the Beirut explosion. Insure and Match Capital (IM Capital), established within the framework of the Middle East and North Africa, provides matching capital, equity guarantee, and support programs to a broad range of qualified early-stage businesses and investors in Lebanon. Through this initiative, IM Capital will direct the financing that amounts to nearly two billion Lebanese pounds (about $1,315,876) to companies across four sectors: education, housing, food, and water security. This initiative is part of the $1.3 billion in development assistance that the US government has provided to the Lebanese people since 2006. Eileen Devitt, USAID Mission Director in Lebanon, emphasized the importance of the initiative and its impact on affected companies and communities.

Source: The North Africa Journal November 21, 2020 22:18 UTC