Technology Acquisition, Innovation and

6th Annual “How-to” of Financing
Technology Acquisition, Innovation and
Entrepreneurship Conference
Applying Global Models for Catalyzing
Early Stage Innovation Financing in the Middle East
June 1-3, 2016
Beirut, Lebanon
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June 1, 2016
Dear Colleagues,
On behalf of the World Bank Group, it is my pleasure to welcome you to Beirut and to the 6th Annual
“How-to” of Financing Technology Acquisition, Innovation and Entrepreneurship Conference. I would
also like to express my gratitude and thanks to our partners and co-hosts, the Lebanese Ministry of
Economy and Trade and Kafalat.
This year’s conference focuses on the range of early-stage financing and advisory services support
required by young firms in order to promote entrepreneurship, growth, and employment. The
conference topic is particularly relevant for Lebanon given the size and importance of its financial
sector, its dynamic entrepreneurial history and diaspora linkages, and the need to create quality
jobs for its young people.
Innovation plays a critical role in driving productivity growth and employment, particularly in
infrastructure-deficient countries where technology can have a transformative impact. Access to
finance, however, remains a significant barrier for many enterprises in the region, particularly for new
firms. Developing innovative and inclusive financial sectors is all the more imperative given the scale
and intricacy of conflict in recent years across the Middle East. Private sector development is critical
to recovery, particularly as jobs outlast donor-funded emergency works.
The conference offers a unique policy forum to examine recent empirical evidence, share emerging best
practices, and debate frontier issues related to early stage innovation financing. Sessions will cover
the range of financing models needed for young firms to grow, introduce successful country- level
programs from different world regions, as well as discuss emerging technical areas including clean
energy finance, financial technology, and mobile money. The conference will also provide an
opportunity to witness Lebanon’s vibrant entrepreneurship ecosystem directly through a series of
innovative site visits on Friday, June 3rd.
Over the course of the next several days, we invite you to share your rich professional experiences and
engage in lively debate and dialogue to help us influence policy on promoting innovation and
entrepreneurship in the Middle East and beyond.
Thank you for joining us in Lebanon. We wish you a productive and enjoyable conference
experience.
Ferid Belhaj
Director
Mashreq Department
World Bank Group
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KAFALAT S.A.L.
“guarantees for loans to small & medium enterprises”
capital l.l. 20,000,000,000 – c.r. 75000
list of financial institutions 27
The present conference should have incalculable benefits for the innovative SME sector in
Lebanon, and; given the centrality of SMEs to Lebanon’s economy, to the Lebanese economy as
a whole.
If one uses European (for the Southern Mediterranean) Criteria for the definition of SMEs to
classify enterprises in Lebanon, the percentage of SMEs in Lebanon will exceed 99% of the
total. Furthermore, there are numerous indicators that there is tremendous potential in the
country for enterprises in the creative sector, in innovation and in several lines of innovative
technologies.
Given the above, and starting at the beginning of the previous decade, there have been keen
and steady attempts to improve the financing and the advisory and entrepreneurial support for
start-ups and expanding firms in technological innovation. Subsidized long term loans,
guaranteed loans, specially engineered loans, etc.. Then came the first incubator, to be
followed by the first VC fund, soon to be followed by other incubators and a few funds. These
were matched by associations for entrepreneurial support and linkage, locally and
internationally.
In the last couple of years, this myriad of efforts was capped by efforts from the Central Bank,
and then other dispersed but key efforts, local or with international links, which added
numerous other players at all level, and, especially in equity financing and in the context of BDL
circular 331, much larger equity financing players.
The most critical needs at the moment are, first, to link, in well understood manners, the
various strata of players; innovators / entrepreneurs, support centers, support associations and
most importantly, the financing sources, and make them as aware of each other as possible.
Secondly, to also maximize awareness between players at each level; be it that they are actual
or potential competitors, to be also potential co-operators when this is necessary and possible.
Given the mix of exposure to international best practices on the one hand, and the deep
knowledge of local details that are assembled here, one cannot in any way exaggerate the
impact that the event can create.
KHATER ABI HABIB
CHAIRMAN & GENERAL MANAGER
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June 1, 2016
On behalf of the Ministry of Economy and Trade, it is with great pleasure that I welcome you
all to the 6th annual How-To of Financing Technology Acquisition, Innovation and
Entrepreneurship Conference in Beirut for the first time.
This conference presents an excellent opportunity for small and medium enterprises to
explore benefits associated with early stage financing and innovation.
The SME sector in Lebanon constitutes a vital sector contributing substantially to the economy
and playing a central role in enhancing economic dynamism, job creation and innovation. In
fact, SMEs represent more than 95% of companies in Lebanon and employ about 50% of the
workforce.
In order to strengthen the investment climate and promote the country as an FDI destination,
the Ministry of Economy and Trade launched the “Lebanon SME strategy: A Roadmap to
2020”, which aims to accelerate the creation of startups and increase the productivity of
existing SMEs.
One of the main pillars of this strategy lies in improving access to finance for startups and
existing SMEs particularly through equity financing, as access to finance still represents a major
impediment to the enhancement of this sector.
This conference falls in line with the Ministry’s SME Strategy by its objectives to reach out to
major local and international stakeholders and players from both the public and the private
sector to explore various topics pertinent to the development of the ecosystem.
As such, “How-To” will constitute a great platform for professionals to share experiences and
best practices with an aim of promoting innovation and entrepreneurship in Lebanon and in
the Middle East.
I wish you a successful and fruitful conference.
Thank you for joining us in Lebanon.
Alain Hakim, PhD
Minister of Economy and Trade
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“Applying Global Models for Catalyzing Early Stage Innovation Financing
in the Middle East”
Context and Introduction
Small to Medium Scale Enterprises (SMEs) are critical for creating jobs and promoting productive
and diverse economies. According to a recent survey of nearly 50,000 firms in 104 countries,
SMEs provide as much as two-thirds of all employment, with small firms contributing more to
employment in low income countries than high income countries. However, not all SMEs are
created equal. Evidence on the firm-level determinant of job creation shows that it is younger
firms and more productive firms that have the greatest impact on employment and productivity.
Access to finance, however, remains a critical barrier for many SMEs, particularly young firms. It
is calculated that between 55 to 68 percent of formal SMEs in emerging markets are either
unserved or underserved by financial institutions. Taken together, these findings suggest the
importance of start-ups and fast growing young firms to economic development outcomes as
well as the importance of removing access to finance barriers.
The “How-to” of Financing Technology Acquisition, Innovation and Entrepreneurship community
of practitioners was created by the World Bank Group (WBG) in 2011 to help governments,
international development organizations and experts fill knowledge-gaps, share best practices,
network, and find solutions to support their efforts to address challenges in these areas. The
‘How-To FITE” activities consist of a series of cross-regional Innovation Forums, and Study Tours
and involves WBG counterparts in the Middle East and North Africa (MENA) and across emerging
markets, as well as development partners and experts/practitioners working in these regions to
collaboratively work policy, program and financing solutions leveraging knowledge from the
latest research and working in thematic based groups on target areas specific to country needs.
The objective of this year’s conference is to improve the ability of young firms to access early
stage equity financing and advisory services in order to promote employment, innovation, and
economic development. The event will be co-hosted by the World Bank, the Lebanese Ministry of
Economy and Trade, and Kafalat, Lebanon’s national credit guarantee agency.
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The conference will focus on the range of financing models needed by young firms including
support proof of concept, early stage seed funding for start-ups, and venture capital financing to
reach growth stage. The conference will also present emerging innovative financial tools including
peer-to-peer lending, impact investing, and digital finance to support business expansion. Market
issues will be discussed including pipeline development, due diligence, portfolio risk management,
and exit options, via both retail and apex level engagements. This event will bring together financial
and equity investment institutions, business support service providers, and policymakers at both
national and local levels.
Event Objectives

Share international best practice regarding early stage innovative financing to support
employment, productivity, and broader economic development objectives of client
governments
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Improve the ability of young firms to access early stage equity financing and advisory
services in the Middle East North Africa region and other emerging markets
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Provide a forum for national policymakers to share strategies for promoting
entrepreneurship, innovation, and economic competitiveness

Develop common best practice principles and priorities for early stage innovation
financing and young firm growth in the MENA region
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AGENDA
WEDNESDAY JUNE 1ST 2016
8:00 – 9:00
Registration, Coffee, and Networking — Levant I & II
9:00 – 9:45
Introduction and Welcome Remarks
Introductory remarks to outline conference goals, welcome participants, and provide leadership
vision from each organizing institution
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Ferid Belhaj, Country Director, Mashreq, World Bank
Jean Tawileh, Advisor to the Minister of Economy and Trade, Republic of Lebanon
Dr. Khater Abi Habib, Chairman and General Manager, Kafalat, s.a.l.
SESSION 1
9:45 - 11:00
Setting the Stage: Evidence of firm Growth to Employment and Productivity in Emerging Markets
This session will provide an overview of empirical evidence linking the development of young and
fast growing firms to broader economic development goals in emerging markets. The session will
provide an overview of early stage innovation financing options (pre-bank and other forms of nonbank financing including angel finance, seed finance, and venture capital) available to young firms
as well as key operational and access to finance challenges. The goal of this session is to provide an
analytical framework linking early stage financing to broader economic development goals, with
particular focus on the MENA experience.
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11:00 - 11:30
Simon C. Bell, Head, SME Finance, World Bank
Marc Schiffbauer, Senior Economist, World Bank
Giuseppe Gramigna, SME Expert, Advisor to National and Multilateral Entities, and SBA Chief
Economist.
Moderator: Jean Pesme, Practice Manager, Finance and Markets Global Practice MENA Region, World Bank Group
Coffee Break
SESSION 2
11:30 – 12:45
Building Gazelles through Developing the Innovation Financing Ecosystem: International Best
Practices, Country-Level Experiences, and Enabling Regulation and Supervision
This session aims to share strategies and programs put forward by governments to promote earlystage financing across the Middle East and North Africa as well in emerging economies. The goal of
the session is to map the activities of key players, outline common opportunities and challenges,
and to better understand what is needed to kick-start the innovative financing ecosystem.
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Marianne Hoayek, Executive Director, Head of the Governor’s Executive Office, Banque du
Liban
Hicham Talby, Head, Sectoral Finance and Financial Inclusion Division, Ministry of Economy
and Finance, Kingdom of Morocco
Justin Hill, Senior Private Sector Development Specialist, World Bank
Dr. Nasser Saidi, President, Nasser Saidi & Associates; Former Chief Economist, Dubai International
Financial Center; Former Minister of Economy and Trade and Minister of Industry, Lebanon

12:45 – 14:00
Moderator: Randa Akeel, Senior Economist, World Bank Group
Lunch and Networking—Bourj Al Hammam
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SESSION 3
14:00 – 15:30
Scaling up the Supply of Early Stage Financing – Tools, Institutions, and Regulation
This session aims to provide technical knowledge on innovative financing tools in emerging markets to promote entrepreneurship and young firm growth. The objective of the session is to learn
about new financing modalities and better understand how they support key aspect of the innovation financing ecosystems. The panel will discuss key factors for success and challenges in scaling
up such instruments. It will also make reference to the legal and regulatory environment necessary to expand various early stage financing tools. The session will cover impact investing, venture
capital financing, crowd-funding, and angel investor networks.
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15:30 – 16:00
Paola Ravacchioli, Senior Investment Officer, European Investment Bank
Lina El Zein, Director, MENA Private Equity Association, UAE
Ambar Amleh, COO, Ibtikar Fund (Palestine)
Nicolas Sehnaoui, Former Minister of Telecommunications, Republic of Lebanon
Moderator: Justin Hill, Senior Private Development Sector Specialist, World Bank Group
Coffee Break
SESSION 4
16:00- 17:30
Scaling up Venture Capital Financing in the MENA Region
The objective of this session is to learn industry best practices from leading VC firms in the region
and to discuss the promise of impact investing in the region.
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17:30 – 17:45
Walid Hanna , Managing Partner, MEVP, Lebanon
Hervé Cuviliez, Partner, Leap Ventures, Lebanon
Rami Rahal, Co-Founder and General Partner, Blue Cloud Ventures, USA
Jenny Atout Ahlzén, Investment Director, Accelerator Technology Holdings, Jordan
Moderator: Bassel Aoun, Senior Program Manager, Kafalat
Wrap Up: Key Elements to Promoting Early Stage Innovation Financing in Emerging Markets

Peter McConaghy, Financial Sector Specialist, World Bank Group
EVENING ACTIVITY
19:30 – 21:30
Evening Reception
Hemingway Terrace / Square
(inside the Movenpick Hotel)
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THURSDAY JUNE 2ND, 2016
SESSION 5
9:15 – 10:45
Leveraging Non-Financial Service Support to Build an Effective Demand-Side Response to
Accessing Early Stage Innovation Financing
Limited capacity, operational weaknesses, and a lack of access to systems and networks are
major constraints to the expansion and proliferation of young firms in the MENA region.
Empirical evidence supports this: an examination of World Bank enterprise survey responses
from almost 3,000 SMEs in seven MENA countries revealed that rapid employment growth was
strongly correlated to offering workers formal training, quality certification, and product
innovation. In recent years there has been a proliferation of business development service
providers in the MENA region offering services including incubation, mentoring, business
planning, and capacity building to promote access to financing. This session will present the
experience of a number of high-profile business development service providers with particular
reference to evaluation and measurement of such interventions.
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10:45 – 11:15
Tarek Sadi, Managing Director, Endeavour Lebanon
Faris Alami, CEO, Integration Systems Management (Detroit, Michigan, USA)
Fadi Bishara, Founder, Blackbox
Thanaa Al Khasawneh, Mowgli Levant and GCC Business Manager
Moderator: Peter Mousley, Program Leader, Mashreq Region, World Bank
Coffee Break
SESSION 6
11:15 – 12:30
Driving Innovation through Financial Technology
The objective of this session is to present innovative models to promote the provision of capital
amongst young firms. Particular emphasis will be placed on the role of technology in creating
innovative credit scoring platforms and the role of digital finance, mobile payments systems and
big data to promote credit provision.
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12:30 – 14:00
Ahmed Moor, Co-Founder and CEO, Liwwa
Elias Ghanem, Resident Mentor at UK Tech Hub and Former Managing Director, PayPal
Middle East and North Africa (MENA)
Nadine Chehade, MENA Regional Representative, CGAP
Moderator: Simon C. Bell, Head, SME Finance, World Bank Group
Lunch and Entrepreneurship Marketplace — Méditeranée
Lebanese entrepreneurs present their businesses to conference participants and discuss the road
from start up to expansion.
Confirmed companies include: Turista Kit, NAR, Krimston Two, Riego, Moodfit, Smarke,
Kamkalima, Meacor, Urbarcraft, Createmybook, Slighter
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SESSION 7
14:00 – 15:30
Financing Clean Energy Technology
The objective of this session is to understand emerging trends in green energy financing and its impact on sectoral development and competitiveness.
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15:30-16:00
Ralph Stephan, Program Officer, Kafalat
Antoine Saab, CEO, Energy 24
Mazen Halawi, Banque Du Liban
Moderator: Thomas Jacobs, Resident Representative, International Finance Corporation, Lebanon & Syria
Coffee Break
SESSION 8
16:00 – 17:30
Frontier Challenges and Charting the Road Ahead in Early Stage Innovation Financing in the
MENA Region
The objective of this session is to summarize key themes from conference sessions and to discuss
priorities and opportunities moving ahead. In particular it will focus on how to create linkages between technology, innovation, and access to finance for young firms.
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17:30-17:40
Randa Akeel, Senior Economist, World Bank
Dr. Khater Abi Habib, Chairman and General Manager, Kafalat, s.a.l.
Nicolas Rouhana, General Manager, Insure and Match Capital
Moderator: Peter McConaghy, Financial Sector Specialist, World Bank Group
Wrap Up: Key Elements to Promoting Early Stage Innovation Financing in Emerging Markets
Stefanie Ridenour, Financial Sector Specialist, World Bank Group
FRIDAY JUNE 3RD, 2016
Site Visit: Understanding Lebanon’s Entrepreneurship Ecosystem
9:30-12:00
Visit outside of Beirut to high performing SMEs, including:
Berytech Technology Pole
Paravison/Tourist Tube
Carpolo
12:00 – 13:30
Lunch – Mayrig Restaurant (Armenian cuisine and example of female owned and operated small
business in Beirut)
13:30 – 17:00
Visit to Beirut Digital District (BDD), including:
Speed Lebanon
DNY Group
SETT
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SPEAKER BIOGRAPHIES (ABRIDGED)
Dr. Khater Abi Habib has an academic background as an Economist and Social
Anthropologist. He worked in Commercial Banking before becoming the Chairman and
General Manager of the National Institute for the Guarantee of Deposits and Kafalat s.a.l.,
a financial company that issues guarantees to SMEs in selective sectors which enhances
their ability to get long term loans from Banks operating in Lebanon.
Dr. Khater Abi Habib
Chairman and General
Manager Kafalat, s.a.l.
Faris Alami
Founder & CEO, Integration Systems
Management
(Detroit)
Thana’a Al-Khasawneh
Business Manager, Mowgli
Mentoring, Levant & GCC
Faris Alami is the founder and CEO of Integration Systems Management, an international
technology company where he works with international companies on technologies,
leadership, entrepreneurship and culture programs. Alami also works with several
business incubators - where he managed over 100 start-ups and planned, managed and
directed entrepreneurial training, talent and several international initiatives (programs).
Alami is a certified FastTrac Facilitator for Kauffman Foundation in their internationally
recognized Entrepreneurial Training program. He also facilitates a Global Trade Mission
program for High Schools students, in which they learn how to launch a global technology
company. Alami mentors University of Michigan MBA students, and serves on the Board
of several organizations. In addition, Alami works with the Goldman Sachs 10000
Small Business at Wayne State University as well as an Entrepreneurship Development
Ecosystem Expert with the World Bank.
Thana’a is a regional goal-oriented business executive and professional with a solid and
diverse work experience in retail business, planning, banking and diplomacy. During the
course of her business career, Thana’a has developed extensive experience in several
fields as a negotiator with diplomatic and collaborative team building skills; a
comprehensive and strategic understanding of training; program management and
organizational change; development, execution and business expansion. With her strong
leadership and talent for outstanding communication and public-speaking, Thana’a has
held several leading positions in management and marketing, in The Sultan Center Food
Product Company KSC – SAFEWAY and Egyptian Arab Land Bank, Treasury & Investment
Department and is a business consultant, a professional trainer/facilitator and mentor,
mainly in marketing, business management, business development and mentorship.
Currently, Thana’a acts as the Regional Business Manager for the Levant area and GCC at
The Mowgli Foundation enabling her to work towards her aspiration of achieving positive
change through mentoring within Arab region. Thana’a is placing her acquired experience
to serve her values to ensure economic generation and growth within the region. Thana’a
holds a higher diploma degree in diplomacy and foreign services from the Institute of
Diplomacy in Jordan and a Bachelors degree in Public Administration and Political Science
from the University of Jordan.
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Dr. Nasser Saidi
Founder & President
Nasser Saidi & Associates;
Former Ministry of Economy
and Trade, Lebanon
Ambar Amleh
Chief Operating Officer,
Ibtikar Fund
Dr. Nasser H. Saidi heads Nasser Saidi & Associates a niche consultant and advisor to
governments, central banks, regulators, multi-national and regional companies. He is the
former Chief Economist and Head of External Relations of Dubai International Financial Centre
(DIFC) and Executive Director of the Hawkamah-Institute for Corporate Governance and The
Mudara Institute of Directors at the DIFC. Dr. Saidi is a member of the IMF’s Regional Advisory
Group for MENA and Co-Chair of the Organisation of Economic Cooperation and
Development’s (OECD) MENA Corporate Governance Working Group. In 2013, he was named
among the 50 most Influential Arabs in the World by The Middle East magazine, for the fourth
consecutive year and named among the 500 Most Powerful Arabs in the world by Arabian
Business for the second consecutive year. Dr. Saidi was the Minister of Economy and Trade
and Minister of Industry of Lebanon between 1998 and 2000. He was the first Vice-Governor of
the Central Bank of Lebanon for two successive mandates, 1993-1998 and 1998-2003. Dr. Saidi
holds a Ph.D. and a M.A. in Economics from the University of Rochester in the U.S.A, a M.Sc.
from University College, London University and a B.A. from the American University of Beirut.
Ambar is the Chief Operating Officer for Palestine’s newest startup investment fund, Ibtikar, a
fund that she championed and helped design, structure and fundraise. Ibtikar fills a critical
funding gap faced by Palestinian entrepreneurs between seed and VC. For the past five years,
Ambar has been directly involved in supporting Palestinian entrepreneurs. As the program
manager for Palestine for a New Beginning (PNB), a Palestinian non-profit company focused on
entrepreneurial development, Ambar grew PNB from an idea and a loose and small board
leadership to an established Palestinian institution. Through PNB, Ambar organizes the yearly
Celebration of Innovation, a Palestine-wide competition of entrepreneurs, and the follow-up
support to these entrepreneurs. In past positions, Ambar has managed US government funded
programs worth tens of thousands of dollars, including developing and launching the Arab
region-wide Arab Women’s Leadership Institute based in Amman, Jordan. Before moving to
the Middle East, Ambar worked for the marketing department of Wells Fargo Bank, a top bank
in the United States. Ambar has an international MBA from the Thunderbird School of Global
Management, ranked as the top program in international business for 18 straight years by the
US News and World Report. Prior to her MBA degree, Ambar obtained a Marketing degree
from Arizona State University.
Fadi has in-depth knowledge and experience related to building successful startups in Silicon
Valley and elsewhere in the world. For over 20 years, he has been successfully matching
human capital and venture capital needs across the globe, guiding talented technology
entrepreneurs in their path. Prior to founding Blackbox, Fadi was the founder and CEO of
techVenture. He has over fifteen years experience building teams for over 100 early stage
startups where a large majority of them successfully exited. Fadi is a frequent speaker at
several global conferences, an active mentor with startup accelerators in various international
hubs and a venture advisor to international investment funds.
Fadi Bishara
Founder & CEO, Blackbox
Jenny Atout Ahlzén
Investment Director
Accelerator Technology
Holdings, Jordan
Jenny is a director at Accelerator Technology Holdings, one of the first venture capital firms in
the Arab region, and is managing the existing portfolio as well as implementing the investment
aspect of the MENA Investment Initiative by USAID in Jordan. Jenny has a diverse experience
exceeding 10 years within the finance industry and was previously the Head of Asset
Management at Awraq Investments, the investment arm of Cairo Amman Bank, covering
regional and international equity and fixed income markets, managing mutual funds,
discretionary bond portfolios and structured products. Prior to relocating to Jordan, Jenny
worked at the Icelandic Investment Bank Kaupthing, Sweden, as an equity analyst covering
Small Caps. She obtained her Master’s Degree from the ICMA Centre, in International
Securities and Investment Banking and her Bachelor’s Degree in Economics and Finance from
University of York, United Kingdom. Jenny is a Chartered Financial Analyst, CFA Charterholder,
and is a board member of the CFA Society Jordan.
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Lina El Zein
Director
MENA Private Equity and
Venture Capital Association
Lina has over 16 years of professional experience in various industries including private equity,
venture capital and Consumer goods. Lina has a vast network in the MENA region. Her success
is driven by her knowledge of the regional ecosystem and her keen understanding of the
cultural nuances and ability to meet the needs of all constituents and create tailored
strategies. In her current role with the MENA Private Equity Association, Lina leads the
development of all Private Equity and Venture Capital related programs, research, and has
rallied key industry stakeholders to participate in key initiatives across the region. Prior to
joining MENA Private Equity Association, Lina worked for Gerken Capital Associates, a San
Francisco based Private Equity Fund of Funds and supported with the capital raising efforts of
the firm in Emerging Markets/US/ Europe and other parts of the world. She previously held
senior management positions at Pepsi, Al Ghurair Group, Kout Food Group and Al Abbas Group
in the UAE where she has excelled in the development as well as implementation of growth
strategies leading to operational excellence and financial turnaround. Lina holds an MBA from
Hult Business School in San Francisco with an emphasis on Corporate Finance and Valuations,
and a Bachelor of Science in Business Management from the Lebanese American University.
Elias Ghanem, is a FINTECH professional. Elias worked for VISA for 12 years in Miami and
Singapore followed by 4 years at PAYPAL in Singapore (as GM for South East Asia and India)
and then MENA GM. In November 2013 he left PayPal to become an entrepreneur (at age 43)
and launched TELR, an online payment gateway based in Singapore and Dubai. He ran Telr for
all 2014 and became the chairman of Telr in January'15. Since then, he chairs and sits on
boards of several FINTECH startups. He has been working and speaking about the disruption of
the retail sector, and advocating for a multi-touch customer experience driven by an
omnichannel engagement approach. He is currently the Resident Mentor of the UK Lebanon
Tech Hub in Beirut, a start-ups accelerator programme set up by Banque du Liban, the
Lebanese Central Bank. Elias holds an MBA from the University of Miami, USA, and a BS from
the “Institut de Preparation à l’Administration et la Gestion”, Business School in Paris, France,
with major in Finance. He is fluent in five languages, and a 2013 nominee for the Arabian
Business Start-ups “Mentor of the Year” award.
Elias Ghanem
FINTECH and customer journey
expert
Giuseppe Gramigna
SME Expert, Advisor to
National and Multilateral
Entities, and SBA Chief
Economist
Giuseppe’s work focuses on the small and medium enterprise (SME) sector. He advises
national, multilateral and non-profit entities on how to best assist SMEs. His areas of
expertise include: (i) national SME policies, (ii) designing SME assistance programs, (iii)
program performance and economic impact evaluations, (iv) portfolio credit risk monitoring
and assessments, (v) portfolio and partner risk management. At the U.S. Small Business
Administration, Giuseppe serves as the Agency’s Chief Economist, where he advises the
Agency on economic trends affecting small businesses, and leads research on economic
impact evaluations and strategic planning. He also serves as the U.S. Permanent Delegate and
Vice Chair to the OECD Working Party on SMEs and Entrepreneurship. Giuseppe works with
international organizations such as APEC and ASEAN. He severs on the scientific committees
of several academic institutions and publications, and advises national and multilateral
entities on how to best assist SMEs. Before joining the U.S. Small Business Administration,
Giuseppe headed the consulting firm, DASSI Corp. His other areas of interest include the
construction industries, tourism, information services, and regional economic development.
Giuseppe earned a BA in economics from The State University of New York at Purchase, and a
graduate degree in economics from The New School For Social Research.
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Herve Cuviliez
Co-Founder & Former CEO,
Diwanee Lebanon
Herve has 20 years of experience as a serial entrepreneur and investor and has particular
expertise in operations, scaling and monetization. Herve started his career in Paris by creating
his first interactive agency and sold it to DDB Worldwide (part of the Omnicom group) in 1999.
Since then he has been in charge of all of the digital activities of DDB in France (1500
employees). In 1999, Herve also started his investment activities (including an investment in ecommerce venture Cashstore.fr, which was sold in 2010). Herve co-founded and was
previously the CEO of Diwanee, a Middle East digital media company. He is currently a lead
mentor under the acceleration program at EuraTechnologies, a leading European business
incubator, as well as a partner at Leap Ventures, a growth stage Venture Capital firm in the
Middle East and North Africa.
Mazen is the Head of Subsidized Loans and Financing Programs division at the Financing Unit,
at Banque Du Liban (BDL). He has more than 20 years of experience in the banking sector, of
which 17 years are with the Central Bank of Lebanon. He graduated from the American
University of Beirut (AUB) with a Masters’ Degree in Business Administration, and earned his
designation as a Chartered Financial Analyst, CFA from the CFA Institute.
Mazen Halawi
Financing Unit
Banque Du Liban
Walid is the founder and Managing Partner of Middle East Venture Partners (MEVP). He has
been active in venture capital and in new venture development for the past 17 years. Walid
has founded, co-founded, invested in, and led more than 35 investments/companies spanning
a range of industries, including technology, consumer finance, and hospitality in Dubai,
Amman, Cairo and Beirut. Middle East Venture Partners (MEVP) currently manages 4 regional
Funds with Assets Under Management north of USD 120M. Walid holds a Bachelor’s of
Economics from McGill University (Canada), and a Master’s in Finance from Hautes Études
Commerciales, H.E.C (France).
Walid Hanna
Managing Partner
Middle East Venture Partners
(MEVP)
Marianne Hoayek
Head of Executive Office
Banque du Liban
Marianne Hoayek heads the Executive Office at Banque du Liban since its establishment in
July 2007. The Office reports directly to the Governor. Mrs. Hoayek manages and follows up
the organizational and reform projects at the Central Bank of Lebanon. She handles any task
requested by His Excellency, particularly local and international public relations, and CSR
initiatives by launching and leading social projects and events. She is also a member of the
official Lebanese delegation to the IMF and World Bank Annual Meetings, and sits in several
BDL High-Level Committees. She is particularly involved in the implementation of the nowfamous BDL Intermediate Circular 331 relating to startups and issued by Banque du Liban to
boost the Lebanese economy through facilities granted to banks that support startups and
knowledge economy. She is behind BDL Accelerate Conference, the successful international
conference organized by Banque du Liban, that has established Lebanon as an international
startup hub, with worldwide attendees. In recognition of her efforts and achievements in this
field, she was selected and awarded on November 2015 as one of the “Leading Arab Women
Influencers in Arab Economy and Banking Industry for 2015” by the World Union of Arab
Bankers. Mrs. Hoayek graduated in Business Economics from the Lebanese American
University (LAU) and in Law from the Lebanese University and obtained her Masters Degree in
Laws of Banks and Capital Markets from the Saint Joseph University (USJ).
15
Ahmed is the Co-founder and Chief Executive of kiwwa. liwwa is a Amman-based marketplace
lending company which focuses on providing capital to small and medium-sized businesses
(SMEs). To date, liwwa has financed approximately 80 SMEs in Jordan with a total portfolio size
of $1.8 million USD. The company has successfully raised $2.8 million USD in venture capital,
which it is deploying to continue serving the Jordanian market, along with the UAE. Ahmed
also has experience in journalism and fixed-income finance. He received his BA in 2006 from
the University of Pennsylvania and an MPP from Harvard University in 2013.
Ahmed Moor
Co-founder and Chief Executive
Officer of liwwa
Rami Rahal
Co-Founder and General
Partner, Blue Cloud Ventures
Rami Rahal is a Co-Founder and General Partner of Blue Cloud Ventures. At Blue Cloud
Ventures, Rami focuses on early and growth stage investments and his areas of sector focus
include: enterprise mobile, PaaS, SaaS, new media and infrastructure. Prior to Blue Cloud
Ventures, Rami was an investment banker at Madison Park Group where he worked with a
range of software and tech-enabled services companies on M&A and fundraising transactions.
Previously, Rami was at Accenture in their IT Strategy Group where he advised Fortune 50
companies including Pfizer, Verizon, Walgreens, AT&T, TransUnion and State Street. Rami cofounded Jot Messenger, a NY-based multi-platform mobile and web instant messaging
company. Rami is a graduate from the American University of Beirut (B.Eng. Mechanical
Engineering) and Columbia University (M.S. Operations Research). Rami has no free time, but
when he does, he enjoys traveling, soccer, martial arts, skiing and attending music festivals.
Rami is also an active early stage investor and enjoys working with upcoming entrepreneurs in
the NYC community helping them build innovative companies.
Paola Ravacchioli is a member of the European Investment Bank’s Equity Division for
operations in the MENA and ACP countries. Having spent 20 years at the European Investment
Bank financing the development of the private sector in the EU and the MENA region, she has
a considerable experience in fostering entrepreneurship and innovation, not only through
equity investments in companies and VC funds, but also by supporting business incubators and
seed accelerators. She is currently involved in setting-up the Boost initiative to promote
entrepreneurship in MENA and Sub-Saharan Africa by supporting and financing the earliest and
riskiest stages of the venture cycle.
Paola Ravacchioli
Senior Investment Officer
European Investment Bank
Dr. Nicolas Rouhana
General Manager
Insure and Match Capital
Dr. Nicolas Rouhana, Ph.D. is an Associate Professor at University of Saint Joseph since 1991
where he lectures computer networking and entrepreneurship courses at the Faculty of
Engineering (ESIB). He is a Lecturer at ESIB. Mr. Rouhana served as an Executive Director and
Director of Business Incubation at Berytech from 2002 till 2015, counseling and mentoring
Lebanese entrepreneurs in their startup ventures, and is a Member of the Board of Directors of
the firm. He is a published researcher in the IT field, and a Certified Cisco Networking Academy
Instructor from the University of Central England in Birmingham. He is a certified Business
Counselor from UNIDO Entrepreneurship Development Center. He is also an accredited
Business Advisor from the Institute of Business Consulting in the United Kingdom and an
accredited Assessor by the Oxford Cambridge and RSA Examinations (OCR) and a Certified
Trainer by the Micro-Enterprise Acceleration Institute in Switzerland. He is Member of the
Board of Directors at Speed@BDD SAL. Nicolas is a certified Business Incubation Trainer from
InfoDev (WorldBank) and an accredited EU-BIC (Business Innovation Center) Auditor, and the
spokesperson of Beirut Internet Exchange. Mr. Rouhana holds a Ph.D. in Networking Systems
from Université Pierre et Marie Curie in France in 2000, a graduate of the INSEAD School of
Management in Young Manager’s Program in Management in 2004.
16
Tarek Sadi
Managing Director
Endeavor Lebanon
Nicolas Sehnaoui
Former Minister of
Telecommunications (Lebanon)
and Chairman of UK Lebanon
Tech Hub
Tarek has fifteen years of experience in entrepreneurship, corporate finance and direct
investments, primarily with early stage companies in the Middle East, Europe, and Latin
America. He is the Managing Director of Endeavor Lebanon, an Economic Development nonprofit focused on supporting and growing outperforming entrepreneurs. Prior to Endeavor
Tarek was co-founder and Managing Partner at MEVP, a Beirut-based Venture Capital fund,
which invests in early stage opportunities in the Middle East. Before MEVP, at the Emerging
Market Private Equity fund of Dubai International Capital (DIC), he invested in growth
companies in the Middle East and Asia; he, in tandem, served on the investment committee of
DIC's ABAN. Previously, he was a founding partner of Access Advisory, a London-based venture
partner firm, geared at principal investors, and before that was part of Merrill Lynch's Mergers
and Acquisitions team in London, focusing on the TMT sector. He also co-founded, built and
exited two ventures in mobile content and automotive services, in Mexico. Tarek has a BS in
Political Science and Economics from Georgetown University (USA), and an MBA from London
Business School (England).
Born in 1967 and married with three kids, Nicolas Sehnaoui served as the Minister
of Telecommunications of the Republic of Lebanon between June 2011 and February 2014.
He successfully upgraded Lebanon’s telecommunications infrastructure rolling out 3G and
4G, securing redundancy on the international connectivity, launching a national Fiber
Optic Backbone and Beirut Digital District to name only a few of his accomplishments.
His efforts were crowned by the United Nations International Telecommunication Union
that ranked Lebanon 1st in progress out of 157 countries in the 2012 ICT Development Index.
Prior to taking office Sehnaoui successfully managed several companies across a variety
of industries. He now chairs the UK Lebanon Tech Hub that aims at creating a corridor
between Lebanon and England to allow Lebanese ICT entrepreneurs to access the world supply
chain through the London platform
Ralph is responsible for the Kafalat Energy and Kafalat Innovative Programmes, where he
currently performs techno-financial due diligence necessary for financing small to medium
renewable energy and high-tech projects. He holds a Master of Science in Sustainable Energy
Engineering from the Royal Institute of Technology, Stockholm; with Renewable Energy
experiences in Sweden, France and the Gulf. He joined the Kafalat team in 2011.
Ralph Stephan
Officer, Energy & Technology
Department, KAFALAT sal
Hicham Talby
Head, Sectoral Finance and
Financial Inclusion Division
Ministry of Economy and
Finance
Kingdom of Morocco
Engineer and economist by training, Mr. Talby is the Director of the Sectoral Finance and
Financial Inclusion Division at the Moroccan Ministry of Economy and Finance. Mr. Talby has
designed and implemented a number of public support instruments for the financing of small
and medium-sized firms and spearheaded the development and passing of a number of laws
related to market-based financing, specifically the law on capital investment and the law
related to securitization and real estate investment. Mr. Talby is leading the development of
Morocco’s national financial inclusion strategy as well as a public-private investment lending
project dedicated to the financing of startup and young fast growing firms. The project also
includes the development of angel network finance and the development of a legal framework
for crowdfunding. Mr. Talby holds a Master’s degree in international economics and enterprise
management, specifically as it relates to the banking sector.
17
BIOGRAPHIES OF MODERATORS, WORLD BANK STAFF, AND ORGANIZERS
(ABRIDGED)
Nada joined the World Bank Group in 1998, in Washington DC as Team Assistant for the
Executive Directors (MNA). In 2005 she joined the Lebanon Country Office as Senior Program
Assistant working with the Program Leaders serving Lebanon, Jordan and Iraq. Nada is fluent
in Arabic, English and French.
Nada Abou-Rizk
Senior Program Assistant
World Bank Group
Randa Akeel
Senior Economist
World Bank Group
Randa Akeel is a Senior Economist in the Finance & Markets Global Practice of the World Bank
Group. Randa has designed and led several financing operations to support the development
of early stage and innovation financing in the Middle East and North Africa, Randa also
provides her expertise in this field to various World Bank Group initiatives, country
partnership frameworks, and advisory services. Randa is also supporting financial sector
policy and regulatory reform in Tajikistan supervising a multi-year technical assistance and
capacity building program to strengthen the country’s mechanisms to manage financial
stability, financial risk, and bank supervision for enhanced financial inclusion. During her 12
years at the World Bank Group Randa worked across multiple development areas conducting
analytics, and supporting capacity and institutional building in middle and low-income
countries as well as in fragile and conflict states on the topics of: gender equality and
inclusion, income generating activities, investment climate assessments, microfinance, and
municipal programs and systems to support improved delivery of services in poor urban
neighborhoods. Country experience: Lebanon, Jordan, Morocco, Iraq, Iran,Tunisia, Kuwait,
Saudi Arabia, Djibouti, and Tajikistan.
Bassel joined Kafalat in 2015 as Project Manager for the iSME Programme. Before joining
Kafalat, he spent 6 years working for Quartilium, the Funds of Funds division of ACG Capital
(ex Groupama Private Equity), a Paris based Private Equity firm with more than €2 billion in
assets under management. The Quartilium team has invested in over 200 Venture Capital,
Private Equity and Mezzanine funds, across Europe, the USA and emerging markets. Prior to
that, Bassel had more than 4 years of Strategic Asset Allocation and Alternative Investments
experience working for leading European insurance companies as AXA and Groupama in Paris.
He holds a Master degree in finance from the European Business School in Paris.
Bassel Aoun
Project Manager
Kafalat
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Simon Bell
Global Lead, SME Finance
World Bank Group
Since January 2015, Simon Bell has taken over the role of Global Lead for SME Finance in the
Finance and Markets Global Practice where he is coordinating the financing support provided
through F&M with colleagues dealing with SME issues in the Trade and Competitiveness
Global Practice, the Financial Institutions Group of the IFC, the Advisory Services units of the
IFC and the World Bank, and the SME Finance Forum. Simon also leads the SME Finance
Community of Practice which includes over 50 staff from F&M – as well as other associated
staff from the IFC and other Global Practices, the IFC and World Bank Treasuries, and MIGA.
Prior to taking on this new role, Simon was the Sector Manager in the Finance and Private
Sector unit of the Middle East and North Africa region (MENA) of the World Bank – where he
worked for over five years on a wide range of both financial sector and private sector
issues. A large component of the lending in the MENA region over this period was financing of
SMEs – particularly as employment issues for young people loomed increasingly large after
the advent of the Arab Spring. He worked on all the countries of the MENA region on
Financial Sector, Private Sector and, increasingly, Knowledge and Innovation issues. He is
keenly interested in innovation – and particularly the very rapid growth of finTech industries
in Crowd Funding, Peer to Peer lending, Social/Development Impact Bonds, psychometric
testing and big data, etc – which have all emerged over the past decade.
Ferid Belhaj was appointed World Bank Director for the Middle East on September 17, 2012
covering Lebanon, Syria, Jordan, Iraq and Iran. He served as World Bank Director for the
Pacific Region (2009-2012), Special Representative to the United Nations in New York (20072010), and Country Manager for Morocco (2002-2007). He joined the Bank in 1996 as a Senior
Counsel in Legal Department
Ferid Belhaj
Country Director
Middle East
World Bank Group
Based in Beirut, Lebanon, Nadine Chehade works to deepen CGAP's engagement in the MENA
region, collaborating with regional partners on issues such as technology, policy, and funding
for microfinance. She joined CGAP as the regional representative for the MENA region in
2012, bringing 10 years of experience in investment banking, management consulting, and
microfinance. Since 2006, she has worked with Planet Rating where she focuses both on
microfinance globally and in the Arab world. Chehade is fluent in Arabic, English, French, and
conversational in Spanish.
Nadine Chehade
Regional Representative for
Middle East North Africa
Region, CGAP
19
Suzan Ghazi el LouLou
Program Assistant
World Bank Group
Justin Hill
Senior Private Sector
Development Specialist
World Bank Group
Tom Jacobs
Principal Country Officer
International Finance
Corporation
Suzan currently works as a short-term consultant at the World Bank office in Beirut providing
operational and administrative support to senior staff member. Suzan has 6 years of experience
in the development sector starting with United Nations Educational, Scientific, and Cultural
Organization (UNESCO). She also has experience in monitoring and evaluating the
implementation of projects in several local and international NGOs, including: Welfare
Association, Unite Lebanon Youth Project (ULYP), and American Near East Refugee Aid (ANERA).
In addition to development work, Suzan has experience in humanitarian relief and emergency
crisis response during war and conflict turmoil. In December 2015, Suzan assisted in the refugee
crisis response project which was implemented by the Embassy of Canada in Lebanon and the
International Organization for Migration (IOM) for the displaced Syrian refugees who were
migrating to Canada. Suzan holds a B.A. in Child Education and Psychology from the American
University of Beirut (AUB) with a minor specialty in Creative English Writing (Class of 2008).
Justin Hill is a Senior Private Sector Specialist within the Innovation and Entrepreneurship Unit
of the World Bank Group’s Trade and Competitiveness Global Practice. He leads the
development of the Innovation Policy Platform in partnership with the OECD, and works on a
range of projects to develop stronger innovation and entrepreneurship ecosystems, and
stimulate business growth within World Bank Group client countries including the
Access2Finance initiative. Prior to joining the practice he worked for a number of years within
the Australian Department for Industry and Innovation. He held responsibility for venture
capital and high growth entrepreneurship policy including the Innovation Investment Fund coinvestment scheme, early stage tax incentives and direct support schemes for entrepreneurs,
and prior to that held. various other industry and innovation policy positions. Justin has a
Masters in Industry Strategy from the Australian National University.
Based in Beirut since September 2008, Thomas Jacobs is responsible for IFC’s activities in
Lebanon and Syria while coordinating IFC’s climate business across the MENA region. In doing
so, he has spear-headed IFC efforts to promote financing of sustainable energy in Lebanon and
is currently working on the launch of IFC’s innovative certification system, “EDGE” (Excellence in
Design for Greater Efficiency), which promotes energy and water efficient building practices in
the construction sector. Previously, Mr. Jacobs spent 4 years in Cairo helping to launch and
manage IFC’s access to finance advisory services practice in MENA focusing on leasing, credit
reporting and microfinance, among others. He has worked extensively across the MENA region,
Afghanistan, Pakistan and Central Asia. His educational background includes a Masters of Arts
in International Relations from The Johns Hopkins University School for Advanced International
Studies and an MBA in International Business from Rutgers University.
Peter McConaghy is a financial sector specialist within the World Bank’s Finance & Markets
Global Practice. Peter leads technical assistance and investment lending projects aimed at
advancing financial inclusion across the Middle East and North Africa. Peter also provides
technical support on projects involving financial sector regulatory reform, banking
restructuring, SME development, microfinance, financial literacy, and gender. Prior to joining
the Bank, Peter worked as a business development officer at the First MicroFinance Bank in
Dushanbe Tajikistan and was the lead researcher and contributing author on the New
Microfinance Handbook (World Bank Publications; Dec. 2012). Peter holds an M.A. in
international economics and international development from Johns Hopkins SAIS.
Peter McConaghy
Financial Sector Specialist
World Bank Group
20
Peter Mousley is currently a Program Leader in the Equitable Markets, Finance and Institutions
Global Practices Group based in the World Bank regional office in Beirut, Lebanon managing
World Bank Group lending operations and advisory work across the Middle East. This include
the development of innovative financing instruments for job creation and SMEs, Public-Private
Partnerships for infrastructure and special economic zone development and the strengthening
of investment climates for firm entry and growth. Peter Mousley has extensive prior
experience in Eastern Europe, Africa, China and Latin America. Peter Mousley has post
graduate degrees in Economics and Philosophy from the London School of Economics, UK.
Publications cover investment climate, growth and competitiveness, PPPs and private and
financial sector development.
Peter Mousley
Program Leader
World Bank Group
Jean Pesme
Practice Manager
World Bank Group
Stefanie Ridenour
Financial Sector Specialist
World Bank Group
Marc Schiffbauer
Senior Economist
World Bank Group
Jean Pesme is a practice manager in the World Bank Group, Finance & Markets Global
Practice. This practice is an integral part of the World Bank Group’s on-going global and
country based efforts on governance and financial sector development. This work involves a
range of activities to promote integrity, as well as combat corruption, money-laundering,
financing of terrorism, and more generally illicit financial flows. Jean is also the coordinator of
the Stolen Asset Recovery Initiative (StAR), a partnership of the World Bank and the United
Nations Office on Drugs and Crime, which works to prevent the laundering of the proceeds of
corruption and facilitates the more systematic and timely return of stolen assets. Jean
oversees the delivery of advisory services (country diagnostics, technical and case assistance),
preparation and dissemination of policy development reports and knowledge, and actively
participates in global initiatives and standard-setting (UN, G20, FATF…). Prior to joining the
World Bank, Jean already worked on Anti Money Laundering (AML) and anti-corruption issues.
Stefanie Ridenour is a Financial Sector Specialist with the Finance & Markets Global Practice at
the World Bank Group. She leads and supports projects in the Middle East and North Africa
region with a focus on early stage finance, financial inclusion, entrepreneurship, SME finance,
and impact investing. Previously, she managed a global responsible inclusive finance initiative
at a microfinance non-profit organization and worked for L’Institut Arabe des Chefs
d’Entreprises in Tunisia. She also created and led innovative economic development programs
in Detroit while working for the Michigan Governor’s Executive Office. Stefanie holds a M.S. in
International Development and Business from Georgetown University and a B.A. in
International Relations and Middle East Studies from Michigan State University. She speaks
French and is based in Washington D.C.
Marc Schiffbauer is a Senior Country Economist working on the Andean countries with a focus
on Peru. Marc joined the World Bank in September 2009 working in the Poverty Reduction
and Economic Management unit within the Eastern Europe and Central Asia as well as the
Middle East and North Africa regions. In the last year, Marc was part of the team preparing
the World Development Report 2016 on Digital Dividends, leading the first chapter on digital
technologies and growth. Before joining the World Bank, he worked for the Economic and
Social Research Institute (ESRI) in Dublin and as a consultant for the European Central Bank
and the IMF on issues related to economic growth, firm productivity, and competition. Marc
has a PhD in economics from the University of Bonn in Germany and was a one year visiting
scholar at Universidad Pompeu Fabra, Barcelona, and University of British Columbia, Vancouver.
21
LOGISTICS AND USEFUL INFORMATION
WORLD BANK GROUP OFFICE
World Bank Group/IMF Office in Beirut
Bourie House 119
Abdallah Bayhum Street
Marffaa - Solidere
P O Box 11 - 8577
Beirut - Lebanon
Phone: 961-1-962-900
Fax: 961-1-962-919
Lebanon Country Office (area code 961-1)
Bank Link: 5367+ 4-digits Extension (HQ to Beirut) / 5220+ 5-digits Extension (Beirut to HQ)
World Bank Office - Beirut
Ferid Belhaj, Country Director, Mashreq Department
Office Phone
5367 + 2910
Thomas Jacobs, Principal Country Officer, IFC
5367 + 2970
Steve Tinegate, Country Security Specialist, MNA Region
5367 + 2960
Mouna Couzi, Lebanon Country Officer
5367 + 2915
5367 + 2912
Lana Kobessi, Office Manager
Guitta El Alam, IT Officer
5367 + 2959
Washington DC
Pilar Maisterra, Country Program Coordinator
202 473-9629
Peter McConaghy, Financial Sector Specialist
202 473-8175
Stefanie Ridenour, Financial Sector Specialist
202-473-9865
Note: Please call Peter and/or Stefanie for logistical information
HOTEL INFORMATION
Mövenpick Hotel Beirut
General De Gaulle Avenue
Raoucheh 2038 6908,
Beirut-Lebanon
Cell Phone
Cell: 961-70-656 121
Cell: 961-70-647 765
Cell: 961-70-656 151
Cell: 961-3-615 573
Cell:
Cell:
Cell:
Cell:
961-70-656 141
961-3-925 192
961-70-672 390
961-3-222 585
+1 646 417 2541
+1 810 441 6719
Contact numbers
Telephone: +961 1 869666
Fax: +961 1 802515
DOCTORS
UN Doctor Josette Sfeir 961-3-33-37-51
Health : Medical Emergency Response Coordinator – MERC : Nada Abou Rizk : 961-3-21-47-71
American University of Beirut Hospital: 961-1-374374
Clemenceau Medical Center: 961-1-372888
Hotel Dieu de France Hospital : 961-1-615300
22
SECURITY
WB Security Specialist & Security Focal Point (24/7):
Steve Tinegate, WBG Country Security Specialist, MNA Region - 961-70-656 151
Note: Please call Steve for any questions or issues related to security during your stay in Lebanon.
World Bank Group Security Operations Center – Washington DC
24-hour EMERGENCY line : +1 202-458-8888 Non-emergency: +1 202-473-3333
Text Messages: +1 202-460-9244
EMERGENCY CONTACTS
Police
112
Fire
175
Ambulance 140
TRAVEL/TRANSPORTATION
Travel / Transportation
Thomas Cook Travel Agency: 961-5-95-56-51 Cell: 961-3-70-59-20
Lufthansa: 961-1-34-70-07
Tips
Always follow Security Advisories issued by the Country Office.
Tap water is not safe in Lebanon, bottle water is recommended.
Please only use WBG recommended Taxi’s or transportation provided by the Hotel.
There are no specific photography restrictions, except in places where there are signs indicating that it is prohibited
(exp. Military base, official buildings, museums).
Local Currency
The local currency is the Lebanese Pound. The current rate is US$1=LBP1,500. Most prices are quoted in the
Lebanese currency, but the country is entirely dollarized and, as such, US dollar banknotes are accepted for all
transactions. It is recommended that small notes of US$5, US$10, and US$20 are readily available, as it is
sometimes difficult to break down larger notes. ATM machines are available outside all banks and inside the hotel.
Money can be withdrawn in either the local currency or US dollars. Restaurants, hotels, souvenir shops, pharmacies
and hospitals all accept credit cards. Visa and MasterCard are more widely used than American Express.
Time Difference
At the specified time, local time in Beirut is 6 hours ahead of Washington DC.
Weather in Beirut (March 2016)
March
Current average high
Current average low
Humidity
67F
55 F
Low/Meduim
23
Get to Know Lebanon
One of the oldest continuously inhabited countries in the world, Lebanon is in many aspects unlike any other country in the
Middle East. Its rich cultural mix, with over 6,000 years of history, is influenced by various civilizations and religions that
passed through its history, making it a land of contrast and diversity. The Lebanese are for most part an ethnic mix of
several elements including Arab, Greek and Armenian. Lebanon is the most religiously diverse country in the Middle East.
There are some 18 religious communities, most of them tiny. The official language is Arabic. French and English are widely
spoken. Lebanon's climate is moderate Mediterranean, cool and rainy in winter and hot and humid in summer.
Lebanon is a fascinating place in many respects. The country has gone through bouts of violence and destruction but it
rebounded each time. Lebanon is post-conflict society that is slowly if fitfully emerging from crisis. However, the country
has not escaped regional crises. A key issue facing Lebanon is the impact, social and economic, of the influx of over a
million Syrian refugees. The entry of so many refugees has taken a toll of the country's finances and public services. The
World Bank foresees spillovers from the Syrian conflict, political uncertainty, and the volatile security environment as
posing significant challenges to the expected growth of Lebanon's economy. Given Lebanon's past resilience –Beirut has
been destroyed and rebuilt 7 times—it is anticipated the country will weather the many challenges it is facing.
Shopping: In Beirut, you can find a very trendy selection of Lebanese fashion and furniture designers, artists, and
photographers whose work can be seen throughout the city. There are large shopping centers in the Verdun area, and
designer stores in the Solidère area. Hamra Street is also a popular shopping area. Bargain hunters should head to Bourj
Hammoud and Basta-Tahta. The major malls carry international designer goods form major high international brands.
Amongst the capital's best malls are ABC mall in Achrafieh (www.abc.com), Beirut mall (www.beirutmall.com.lb), City Mall
and the Dunes Center.
Lebanon boasts an eclectic blend of traditional handicrafts. In Beirut, do visit artisan shops, such as L'Artisan du Liban (on
Clemenceau Street, near the Gefinor Centre) or La Maison de l'Artisan (at the eastern end of the Corniche in Aain el
Mraisse), for a wide array of beautiful handicrafts. The traditional souks (covered markets) in the ancient cities of Tripoli,
Saida (Sidon), and Sour (Tyre) are also excellent places to hunt for unique traditional crafts. When visiting the different
regions of Lebanon, be sure to inquire what the local handicraft specialty is: blown glass, gold and silver jewelry, cutlery,
pottery, embroidered clothing and linen, ornate trays, engraved boxes, olive oil soap, and so on. Each region is usually
known for one or more traditional crafts. LebWeb.com (www.lebweb.com) is an excellent comprehensive shopping
directory for Lebanon. Value added tax (VAT) is levied on most goods and services at the standard rate of 10%.
Recreation: Beirut is often referred to as the "Paris of the Middle East", as it is one of the most cosmopolitan cities in the
region, in which the best of both east and west have been successfully mixed. There is an excellent choice of trendy bars,
restaurants and nightclubs in the city. Beirut nightlife (www.beirutnightlife.com) and the Lebanese ministry of culture
(ww.culture.gov.lb) can be excellent guides to the wide varieties of amusements, restaurants, cultural events, cinemas, and
theaters.
Dining: Lebanese cuisine is the Mediterranean diet at its quintessence. Lebanese food can be distinguished by generous
helpings of heart-healthy olive oil, as well as garlic, fresh fish, seafood, poultry, fruits, starches, vegetables, and sometimes,
red meat. Most frequently, Lebanese foods are grilled, baked, or sautéed in olive oil. Seldom is butter or cream used in
Lebanese dishes, other than a few desserts. Lebanese cuisine is seasonal, much like the cuisine of many Mediterranean
countries. Often, vegetables are served raw, pickled, or cooked. "Mezze" or "mazza," is one of the most famous Lebanese
delicacies. Lebanon is also well known for its wide variety of Arabic sweets, which are prevalent in restaurants throughout
the country. In Lebanon, the city of Tripoli is often called, the "sweet capital" of Lebanon. Tipping 10-15% in restaurants is
customary, in addition to any service charge incorporated in restaurant bills.
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