The ESFD Project aims to alleviate poverty and mitigate the social impact of economic transition on disadvantaged groups through the creation of opportunities for economic and social development, generation of jobs and revenues and through the improvement of the population�s access to basic social services. A total of 31 mEuro are dedicated to the Project, comprised of EU funds of 25 mEuro and the Lebanese Govt. funds of 6 mEuro. In addition to the 2.2 mEuro TA budget, operational funds for each project component have been dedicated as indicated below. The ESFD Project pursues its objectives through two main components;
The Job Creation Component (Operational Funds = 14mEuro) aims at the provision of financing to micro-enterprises or individuals, in addition to non-financial support services aiming at improving the viability and sustainability of submitted projects. Credit lines shall be provided through a group of banks and NGOs to be selected based on a set of criteria including competence, financial strength, outreach to poor communities and target groups. Moreover, the intermediaries and final beneficiaries shall benefit from technical assistance to improve the preparation, management and follow-up of the financed projects.
The Local Development Component (Operational Funds = 7mEuro) aims at satisfying the needs in terms of access to social services and improvement of the well being of the most disadvantaged groups. Systematic local development will be based on the promotion of projects proposed by local organisations, most especially municipalities, NGOs, and cooperatives in order to ensure effective local participation in the proposed projects.