UNRWA Microfinance Department inaugurated its 9th branch in Russiefa reaffirming its commitment and continuous services to Palestine refugees in Jordan.

The European Bank for Reconstruction and Development, alongside the European Union and the Green Climate Fund, has announced a financing initiative for Jordan's microfinance institution, Tamweelcom, under the Green Economy Financing Program.

The investment aims to allocate the loan proceeds towards climate change mitigation and adaptation technologies, focusing on local MSMEs, including women-led enterprises.

The agreement outlines the cooperation between Jordanian Hashemite Fund for Human Development and FINCA Jordan in financing productive initiatives, small businesses, and projects across the Kingdom through soft loans.

The bank will work in partnership with local banks and financial institutions using best practices in microfinance for provision of Islamic banking services, and will apply an integrated system of financial and non-financial services to support value and supply chains for MSMEs.

The initiative aims to help clients and communities by providing blended financial and non-financial digital services including advisory services, training and more to assure ease of access to e-money and transfers for its customers.

The Humanitarian Transfers Platform enables humanitarian agencies to execute transfers directly to their interventions beneficiaries without a third party.

The National Cash Transfer Company piloted the Door to Door Payment method as a response to the new challenging context and a preventive measure for coronavirus-related risks.

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.

Cash transfers from Yemenis abroad to their country have declined by 80 percent in the first four months of 2020, Oxfam announced on Thursday.