The NET Global to get
$3 million loan from EBRD

Proceeds to support expansion in Lebanon, Jordan and Iraq

The European Bank for Reconstruction and Development (EBRD) said it will provide a senior secured loan of up to $3 million to The NET Global to support its commercial expansion in Lebanon, Jordan, and Iraq.

The loan will allow the regional logistics group to offer market-aligned competitive payment terms to trading companies and e-commerce customers which will enable it to attract larger business volumes from reputable clients. It will also help boost the group's asset productivity and strengthen its competitiveness while preserving the quality of its customer portfolio.

“The Project demonstrates strong additionality across all relevant markets, as it offers financing that is not available in the market from commercial sources on reasonable terms and conditions as well as expertise for upgrading gender standards and equal opportunities action plans,” EBRD said.

The NET Global, whose CEO is Mourad Aoun, started as a Lebanon-focused business in 1994. It has now business operations in Lebanon, the UAE, Jordan, and Iraq, while its holding company is incorporated in the UAE. The group owns and operates warehouses and distribution fleets in its countries of presence. It provides domestic last-mile deliveries, international express, e-commerce fulfilment services, third-party logistics warehousing and fulfilment, freight forwarding services, and port clearance services tailored to online retailers, wholesalers, business-to-business (B2B) and business-to-consumer (B2C) clients.