Share the page

Increasing the financial inclusion of Jordanian SMEs

Project

Microfinance
Signature date
Location
Jordan
Financing tool
Loan
Financing amount (Euro)
4614674
Financing details
EUR 4,614,674.67 loan
Customer
Tamweelcom Jordan Microfinance Company
Type of customer
Company
Country of headquarters
Jordan
Project number
PJO1029
Environmental and social ranking
IF-C
Download the report

This project is carried out with the support of the European Union.

Legal notice EU (project)

The content of this project information sheet falls under the sole responsibility of the Proparco and does not necessarily reflect the opinions of the European Union. This information is given at the time of signature, without prejudice to any developments in the operation/project.

In Jordan, Proparco and the European Union are helping Tamweelcom bridge the financing gap for SMEs and develop financial inclusion in the country and in the Middle East.

Client presentation

Since 1999, Tamweelcom has been allocating loans to key players in Jordan’s economy, MSMEs, a segment underserved by traditional banks. Tamweelcom serves a majority of women borrowers (78% of clients) and 67% of its borrowers live in rural areas. It is today the second largest microfinance institution in Jordan in terms of loan portfolio size.

Project description

With this senior loan disbursed in local currency, Proparco is supporting Tamweelcom and financial inclusion in Jordan.

This operation in local currency has been made possible through the European Union’s “EU SME MENA” facility, designed to facilitate loans in local currency and encourage financial intermediaries to serve SMEs and the most underserved segments of the economy.

Project impact

The main expected impacts are as follows: 

  • Support for the country’s MSME fabric, thereby promoting economic and social cohesion in Jordan in a regional context of chronic crises
  • Financing for more than 500 microcredits and 400 jobs created or maintained

The project will contribute to SDG 1 (No poverty), SDG  8 (Decent work and economic growth) and SDG 10 (Reduced inequalities).