The European Bank for Reconstruction & Development (EBRD) has announced a $4 million loan to the Microfund for Women (MFW) in Jordan.
The funds will enable MFW to increase access to finance for women-led businesses, especially those from disadvantaged communities. This will contribute to greater financial inclusion and job opportunities.
Access to finance through banks remains extremely limited for micro, small and medium-sized enterprises in Jordan, which account for 95 per cent of the country’s companies and are an important source for jobs.
MFW is the largest microfinance institution in the country in terms of loans and clients alike, with total assets of $89.6 million and 61 branches, in the first half of 2018. It currently serves nearly 147,000 beneficiaries, of whom around 5,600 are active women borrowers from the Syrian refugee community.
Since 2012, EBRD has injected over €1 billion in Jordan in 40 projects in various sectors of the economy.
