EIB Lends $3M to Microfund for Women (MFW) for Entrepreneurs in Jordan

The European Investment Bank (EIB), an institution of the EU, recently lent EUR 2.7 million ($3.3 million) to Microfund for Women (MFW) to be on-lent for microenterprise in Jordan. These loans are intended to support 9,100 people, 90 percent of whom are women, whose livelihoods have been threatened by the effects of the COVID-19 pandemic. EIB drew the funds from the Southern Neighborhood Microfinance Facility (SNMF), which has assets of EUR 71.3 million ($86.5 million) and is intended to encourage microfinance in Algeria, Egypt, Israel, Jordan, Lebanon, Libya, Morocco, Palestine, Syria and Tunisia.

H E Maria Hadjitheodosiou, the EU ambassador to Jordan, said that “this project reflects the European Union’s commitment to supporting partner countries, such as Jordan, addressing the impact of the COVID-19 pandemic and at the same time fostering women’s empowerment in Jordan, by helping them achieve sustainable livelihoods for themselves and their families, alongside other women empowerment projects supported by the European Union.”