The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development institution, recently announced it will loan USD 2 million in local currency to Microfund for Women (MFW), a microfinance institution in Jordan, to support female entrepreneurs in that country. In conjunction with the loan, the EBRD’s Southern and Eastern Mediterranean Multi-Donor Account and its Shareholder Special Fund will provide funding for technical cooperation intended to “strengthen institutional and skill development in lending to refugees.”
MFW offers lending, insurance, business development and social services but does not take deposits. It has total assets of USD 103.8 million, 137,903 customers and 58 branches as of 2017. This is up from assets of USD 88.4 million, 134,000 customers and 52 branches as of 2016.
EBRD was founded in 1991, and in 2012 Jordan became one of the 65 countries that are its shareholders. EBRD, which focuses on “the promotion of private and entrepreneurial initiative,” invested EUR 9.4 billion (USD 10.1 billion) in companies in 30 countries during 2016. In Jordan, EBRD committed USD 1 billion across 35 projects since 2012.
By Sascha Strobl, Research Associate
Sources and Additional Resources:
EBRD investment in MFW:
EBRD home page:
Microfund for Women:
MIX profile on MFW:
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