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 sale of the stake for $53 million in cash values Wave Money at $104 million and is set to be finalized in the coming days, according to people close to the deal.

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.

City Express Myanmar and Money King were granted remittance licenses on 5 January.

The program will enable credit unions to facilitate loan origination, approvals, disbursements, and deposits digitally.

Government travel restrictions and orders to defer repayments and lower interest rates on loans due to COVID-19 have reduced the ability of Myanmar’s microfinance companies to help rural people who desperately need capital.

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