ERBD provides $2m loan for women-based microfinance

AMMAN — The European Bank for Reconstruction and Development (EBRD) is to provide a loan of up to $2 million to the Microfund for Women (MFW) for on-lending to female entrepreneurs in Jordan, an ERBD statement said.

The EBRD funds will offer support for micro, small- and medium-sized enterprises (MSMEs) and contribute to greater financial inclusion and more employment opportunities for women and people living in less-advantaged regions, the statement continued, adding that  access to finance through banks remains extremely limited for MSMEs in Jordan. MFW is the largest microfinance institution in Jordan, and extends loans to refugees in Jordan who do not have access to other sources of finance, the statement added.