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:
http://www.ebrd.com/news/2017/ebrd-supports-female-entrepreneurs-and-refugees-in-jordan.html
EBRD home page:
http://www.ebrd.com/home
Microfund for Women:
http://microfund.org.jo
MIX profile on MFW:
https://www.themix.org/mixmarket/profiles/mfw
EBRD, TaiwanICDF Loan $44m to Romania’s Banca Transilvania for Residential Energy Efficiency
https://www.microcapital.org/microcapital-brief-ebrd-taiwanicdf-loan-44m-romanias-banca-transilvania-residential-energy-efficiency/
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/.
Similar Posts:
- MICROCAPITAL BRIEF: Reefy Microfinance Borrows $6.5m from EBRD for Youth-led MSMEs in Egypt
- MICROCAPITAL BRIEF: EBRD Loans $4.4m to KEP Trust of Kosovo with Focus on Rural, Women-led MSMEs
- MICROCAPITAL BRIEF: FINCA Microfinance Jordan, JOHUD Partner to Fund Community Businesses
- MICROCAPITAL BRIEF: EBRD Loans $21m to BMCI of Morocco as Part of Women in Business (WiB) Program
- MICROCAPITAL BRIEF: EBRD Loans KICB $7m for MSME Financing in Kyrgyzstan