The catastrophic explosion at the port of Beirut on 4 August 2020 left many businesses in the area heavily affected. Thanks to EU funding, registered woman-owned or women-led businesses will benefit from grants equivalent to €5,000 to offset some of the disruption to their business caused by the blast and its economic after-effects. With over 200 applications received, 80 have been shortlisted with an eventual 30 MSMEs to be awarded this summer.
The support to be provided will address the main challenges encountered by the selected women-led businesses such as the high price of materials and equipment, lack of cash liquidity, price increases, requirements of payment in advance in cash, lack of working capital, online payments which are not accessible in Lebanon.
As well as the grant itself, recipients will also benefit from training and networking.
In April 2021 Berytech launched this support programme within the framework of the EU funded programme “European Union For Women’s Empowerment (EU4WE)” implemented by Expertise France.