Two NGOs active in Jordan, the Jordanian Hashemite Fund for Human Development (JOHUD) and FINCA Microfinance Jordan, a unit of US-based FINCA Impact Finance, recently agreed to partner on their mutual goal of “alleviating poverty through economic empowerment.” In particular, the institutions plan to give “soft loans” and other support to companies and other initiatives that promote “comprehensive and sustainable community development,” including by facilitating economic activity among women.
JOHUD was established in 1977 by then King Hussein Bin Talal to reduce poverty in Jordan. The NGO operates 51 centres in the country, where citizens and foreigners can access child development, civic engagement, employment, financial, technology and other services. Its partners include the Jordan Chamber of Industry, Jordan Hospital Medical Center, the World Health Organisation, and various banks and UN agencies.
FINCA Jordan, which was established in 2007, is a microlender whose client base is 90 percent women. The organisation has 15 branches in Jordan and had a loan portfolio of USD 28 million as of the third quarter of 2021.
FINCA Impact Finance has 17 subsidiaries, through which it reaches 2.5 million clients in Africa, Eurasia and Latin America as of 2022. FINCA Impact Finance is partially held by the US-based NGO FINCA International, which was launched in 1984 as the Foundation for International Community Assistance (FINCA).
By Anaya Jhaveri, Research Associate
Sources and Additional Resources
JOHUD press release
https://www.johud.org.jo/Media/ArticleID/1116/A-Memorandum-of-Understanding-between-JOHUD-and-FINCA-Jordan-for-Microfinance
JOHUD homepage
https://www.johud.org.jo
FINCA Jordan homepage
https://finca.jo/
FINCA Impact Finance homepage
https://www.fincaimpact.com
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