The Beirut Building Businesses Back & Better Fund (B5 Fund) by the World Bank and Kafalat fund is now active and already receiving applications to benefit from the USD 25 million cash grants for damaged businesses.
The cash grants target the businesses located within 5km Radius from the port explosion.
Click her for more details
Summary of the fund:
Target Beneficiaries: Formal and informal businesses within 5km Radius from the port explosion.
Grant Size: up to USD 25K for formal businesses and up to USD 10K for informal businesses.
Application process: Formal businesses can apply directly to Kafalat or Banque Libano Francaise by filling the application from the B5 website (www.kafalatB5.com) . Informal businesses should apply through one of four MFIs: Al Majmouaa, IBDAA, VITAS, AEP.
Use of Funds: Grant can be used to cover working capital needs, fixed assets, and unrepaired rehabilitation expenses.