Microfund for Women (MFW)

completed

The project involves an up to $3.0 million loan or JOD 3.0 million with an IFC 50% partial credit guarantee (PCG) and a comprehensive technical assistance (TA) package to Microfund for Women (MFW or the company), the leading microfinance institution in Jordan. The purpose of the loan is to support MFW’s microfinance lending operations through its nine branches covering central and northern Jordan: in the following areas; Raghadan, Nazzal, Wehdat, Baqa’a, Russaifeh, Zarqa, Jerash, Madaba and Irbid. The proposed loan will also allow MFW to introduce new products such as micro-leasing, home improvement loans, education loans and provide comprehensive financial services on a commercially sustainable basis for low income women and reach greater scale. PEP-MENA is expected to design a TA package for MFW, which may include introducing micro-leasing and Board of Directors (governance) training. In addition, IFC’s Gender Entrepreneurship Markets (GEM) program is expected to assess the financial needs of women clients and based on their findings, develop new financial products for women clients.