Client: European Bank for Reconstruction and Development
Duration: 2016-2017
Region: Middle East and North Africa
Country: Jordan
Solutions: Economic Growth
With one of the smallest economies in the Middle East, Jordan depends heavily on micro, small, and medium enterprises (MSMEs) to drive growth and generate jobs. However, due to a lack of access to business loans, Jordanian MSMEs have not been able to reach their full economic potential, contributing to a shortage of employment opportunities currently, and potentially for years to come.
With the vast majority of bank lending allocated to large corporations and the public sector, FINCA Jordan, part of FINCA Worldwide, was founded in 2007 to offer easily accessible loan products to the underserved MSME sector. As part of a European Reconstruction and Development Bank-funded project, DAI supported FINCA Jordan in achieving its long-term goal of becoming a leading MSME lender by implementing a specialized lending methodology, training bank staff in MSME lending, strengthening internal audit and control procedures, developing a credit scoring model, and improving performance measurement.
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