The Global SME Finance Awards 2019 recognized and celebrated financial institutions and fintech companies for their outstanding achievements in delivering exceptional products and services to their SME clients. Endorsed by the GPFI, the Global SME Finance Awards provide an opportunity for institutions to showcase and share their good practices and knowledge and to learn from them!
MEII was just featured in an article in the April 2019 Ripon Forum, a magazine published by the Ripon Society, a centrist Republican public policy organization in Washington. The article featured an interview with Ann McLaughlin Korologos, MEII’s Board Chair, in which she describes MEII’s business model and how the organization has grown over the past 10 years.
You can read the article here:
Members of MEII's Tunisia office recently participated in a training conference, as part of MEII's active collaboration with the U.S. Department of Commerce through its Commercial and Law Development Program Division. This was MEII’s third consecutive year leading a session during the three-day training program, in which MEII trained a group of bankers, investors, and government representatives from Tunisia and Algeria about various franchise financing mechanisms.
The training took place in Paris from March 17-19 in conjunction with the Paris Franchise Expo, one of the largest franchise events in the world.
MEII was created to help small and medium-sized enterprises (SMEs) in the MENA region access finance in order to grow their businesses and create jobs. The core of MEII’s programs is stimulating SME lending by providing local financial intermediaries – primarily banks – with loan guarantees and technical assistance. This enables these institutions to expand their SME client base and structure loans to meet borrower working capital and longer-term financial needs.
We are thrilled to announce that MEII officially reached $300 million dollars in approved loans as of February 28, 2019. Founded in 2007, MEII’s loan guarantee program (LGF) has had a meaningful impact on the MENA region, with a combined total of 25,390 new jobs sustained (23,172 in West Bank/Gaza and 2,218 in Tunisia). In the Palestinian territories, 33% of loan recipients were new bank clients and 11% were startups. Additionally, in Tunisia, 62% of loan recipients were new bank clients and 53% were startups. We are also very proud of our combined 1.4% total loss rate for our loan guarantee program.
Thank you to our hardworking teams in Ramallah and Tunis for helping us reach this important benchmark!
"Racks of onesies, toddler shorts and soft cotton sundresses hang in rows by size in the Carter's and OshKosh shop owned by three sisters in Ramallah, Palestine. Many Americans and Israelis think of Ramallah as the middle of a conflict zone -- but there is no violence here. The store is warm, and the two of the three sisters stop to serve big glasses of orange juice."
We are so proud to announce the opening of our newest facility in Jordan. With a small staff of 5 people, we are excited to support and grow the local community of small and medium enterprises through technical assistance, financial support, and improved access to credit.