Jordan: Microfinance Reforms Draw EU, German Support

Print
 
Dec 2012
Jordan, December, 02 2012 - The European Union (EU) is ready to support the state budget with a programme worth 25 million euros over the next three years in light of the achievements made in reforming and developing the country’s microfinance sector, Planning and International Cooperation Secretary General Saleh Kharabsheh said on Sunday.

Noting that the German Development Bank and the German Agency for International Cooperation (GIZ) have supported the ministry’s endeavours this year, he indicated that GIZ will also cooperate in providing advisory services to assist the government in studying the legal framework needed to organise the work environment of the microfinance sector in Jordan.

Kharabsheh made the remarks and outlined the progress in implementing the national strategy for microfinance and the ministry’s 2012-2014 executive plan during a coordination meeting with representatives of donors and international organisations supporting the Kingdom’s microfinance sector.

At the meeting, talks focused on the challenges facing the microfinance sector and the need to determine the party capable of supervising the work of microfinance institutions and enable them to enhance their services across the Kingdom, particularly in remote and underprivileged areas.

Discussions also covered future support to be extended by donor parties to enhance sustainable development in Jordan.

Also yesterday, the planning ministry put the cost of implementing programmes under its economic and social productivity programme at JD25 million.

Mohammad Adaileh, director of the programme, said the 32 areas included under the programme are the regions listed as poverty pockets based on a survey on household expenditures conducted in 2008.

The programme, to be concluded in 2014, seeks to improve the living and economic conditions of citizens across the Kingdom with focus on poverty pockets, areas where 25 per cent or more residents live under the poverty line, Adaileh noted.

Moreover, the ministry’s poverty pockets empowerment programme seeks to benefit the 32 regions classified as the most deprived over a 30-month period, Adaileh said, noting that thirty-two per cent of the projects implemented under the programme were established in Mafraq Governorate, where the largest number of poverty pockets exists, followed by Maan.

The JD25 million project, launched in 2011 in cooperation with the Jordan River Foundation, the Noor Al Hussein Foundation, the Jordanian Hashemite Fund for Human Development and the Social Development Centres Society, seeks to provide young people with more than 2,000 job opportunities.



Source : Jordan Times
 

Research Analysis Tools

The fund indexes, institution benchmarks and other market information displayed here are all Symbiotics designed analysis tools, created in-house by our analysts and experts. Symbiotics has one of the oldest track records in microfinance investment analysis dating back to the late 1990s; its indexes and benchmarks have been regularly used as markers by investors, asset managers, financial institutions and practitioners. These, as well as several other research products, are available through the Research Account. Click on the link below to find out more.

Learn More