Lebanon

Aug 20, 2020
Global Communities and PCI, a Global Communities Partner, have implemented community-driven humanitarian assistance programs for decades, responding to the needs of millions of families in countries around the globe. From natural disasters, to armed conflict, to social and economic upheaval, we are there to meet the humanitarian needs of vulnerable people affected by crisis. We work in partnership with a range of community stakeholders, both public and private, to enable communities to recover from crisis, rebuild safely, and restart livelihoods sooner, laying the foundation for long-term recovery. Global Communities, known locally as CHF International, has deep roots in Lebanon, where we have worked to... Read more
Aug 10, 2020
Mission Help the victims of the Beirut August 2020 explosion, particularly by providing basic shelter assistance to survive and recover. Vision: Li Beirut aims to provide relief to the victims of the Beirut August 2020 explosion, to restore their dwellings to a basic form of habitability, and to reduce the number of homeless and displaced victims. About us: Li Beirut is a charitable initiative started by Vitas Lebanon in partnership with Global Communities along with Saradar Foundation and other local non-governmental organizations to provide support to the victims of the August 2020 explosion. Vitas Lebanon is a longstanding provider of microfinance services to under-privileged and vulnerable... Read more
Jul 09, 2020
How pivoting from auditing to advising helps financial institutions manage risk during COVID-19 By Richard Shumann,Chief Risk Officer for Vitas Group
This blog entry was originally published on FinDev Gateway   Internal auditors are an essential component of microfinance providers’ internal control and risk management functions, but how should they react to a sudden crisis? Experience in Vitas Group shows that a quick pivot from auditing to advising, supported by management and collaboration among auditors, helps financial institutions adjust internal controls and manage risk. Vitas Group operates micro and small enterprise... Read more
Jun 22, 2020
The COVID-19 crisis has severely impacted the business community around the world. Small businesses in developing economies have been hit particularly hard. Countries like Iraq and Lebanon were experiencing social and political unrest as the pandemic struck, while Jordan and Palestine were already facing economic recessions, further compounding their problems. This report summarizes the results of a COVID-19 client survey among Vitas Group network institutions. Surveys were conducted in May 2020 with clients in Egypt, Iraq, Jordan, Lebanon, Palestine and Romania, where Vitas served a combined 90,298 active clients and an... Read more
Feb 22, 2020
Vitas Group, created by Global Communities is a for-profit holding company that operates a network of microfinance companies, predominantly in the Middle East. They are a unique group of companies with more than twenty years of proven track record of successfully lending to micro, small, and medium enterprises and the only such investment vehicle for impact investors in the region. Since 2004, Vitas companies have disbursed more than $3 billion to over 1 million customers with an annual default rate below two percent. Every two years, Vitas Group surveys clients in its affiliated institutions to assess customer satisfaction, the impact of loans... Read more
Jun 05, 2019
Vitas Group recently issued a report including a Gender Action Plan that seeks to offer tailored services and a better understanding of the needs of women clients, which is expected to result in improved retention and outreach for borrowers. Vitas Group is a Global Communities enterprise established in 2006 as a microfinance holding company with subsidiaries in Lebanon, Romania, Jordan and Palestine, and affiliates in Iraq and Egypt. In 2018 the Vitas Group launched the Vitas Values Equality initiative to raise awareness and secure from all tiers of management a commitment to embracing gender equality across the network. Then in March of this year Vitas Iraq,... Read more
Dec 15, 2018
Message from Elissa McCarter-LaBorde, CEO of Vitas Group The year 2017 marked several exciting developments for Vitas Group. We signed shareholders agreements and closed investments with new commercial partners in Lebanon and Egypt. Saradar Bank purchased a 49 percent stake in Vitas Lebanon and committed $20 million in new debt financing to expand our footprint across the country. Saradar Bank is a premier financial institution in Lebanon and has been at the center of Lebanese banking for over 60 years. Egyptian private equity firm BPE Partners, through its new subsidiary “Ebtikar,” entered a 50/50 joint venture to launch Vitas Egypt. Vitas Egypt will be the first microfinance company in the country... Read more
Oct 05, 2017
Fact Sheet: WASH in Emergencies Water is essential for a range of day-to-day human needs, including consumption, hygiene and irrigation. In developing countries where clean water may already be scarce, conflicts or natural disasters can devastate water and sanitation infrastructure, and reduce people’s abilities to access this key resource. As a result, contaminated water and poor quality sanitation services can increase the prevalence of diseases and deteriorate hygiene and productivity. Global Communities’ humanitarian Water, Sanitation, and Hygiene (WASH) programs are designed to provide immediate access to clean water and sanitation facilities, while improving hygiene practices and laying the... Read more
Aug 24, 2017
Saradar Bank SAL Acquires 49 Percent Stake in Vitas SAL Saradar Bank SAL announced the acquisition of a 49 percent stake in Vitas SAL (“Vitas” or the “Company”), a subsidiary of Vitas Group. Saradar Family Office SAL (“SFO”) acted as sole buy-side financial advisor to Saradar Bank. Based in Lebanon, Vitas is engaged in the provision of microfinance solutions to entrepreneurs and individuals with limited income. This transaction is in line with Saradar Bank’s social responsibility strategy to give back to its community through facilitating access to education, healthcare, information and culture. Moreover, the microfinance industry promotes economic development, employment and growth through the support of Lebanese micro-entrepreneurs and local small businesses. Vitas has continuously... Read more
Aug 14, 2017
Vitas Group Publishes 2016 Annual Report Vitas Group was created in 2006 to help unite the commercially-oriented microfinance institutions owned by Global Communities under one brand and one mission: Financing a Better World. Vitas Group’s staff around the world still worked tirelessly to bring that mission to life. Vitas Group is proud to share this 2016 Annual Report, to showcase the ways our work has a positive social and financial impact on communities around the world. Despite turmoil and uncertainty in many of the places where we work, Vitas remains a partner for good.... Read more
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