JOHUD, FINCA Jordan for microfinance sign MoU on productive initiatives

AMMAN — The Jordanian Hashemite Fund for Human Development (JOHUD) and FINCA Jordan for microfinance on Saturday signed a memorandum of understanding to collaborate in achieving their shared goals to support local communities and contribute to their economic development.

The agreement was signed by JOHUD Executive Director Farah Daghestani and FINCA Jordan's CEO, Abduqodir Sattorov, at the Queen Zein Al Sharaf Institute for Development in Amman.

The agreement outlines the cooperation between the two parties in supporting and financing productive initiatives, small businesses, and projects across the Kingdom through soft loans, according to the Jordan News Agency, Petra.

During the signing ceremony, Daghestani noted that with JOHUD’s network of 51 centres spread across the country, they offer programmes such as employment centres, women's digital centres, community support centres and innovation labs.

These initiatives aim to enhance community engagement in public life and provide pathways for sustainable living, Daghestani added. 

Sattorov highlighted that FINCA has operated in Jordan since late 2007, serving clients in various sectors and locations by providing loans to enhance the productivity of individuals and small enterprises across Jordan, adding that they operate through nine branches.