Tamweelcom 3 (IFC-40533)

Countries
  • Jordan
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Mar 1, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
THE JORDAN MICRO CREDIT COMPANY
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 13, 2018

Disclosed by Bank Jan 25, 2018


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Project Description

This project provides financing to the Jordan Micro Credit Company, or Tamweelcom, to support increases in lending to individual entrepreneurs, micro, and very small enterprises in Jordan.

Investment Description
  • International Finance Corporation (IFC)

The Project consists of a Jordanian Dinar-linked senior loan of up to USD 10 million for IFC’s own account.

Private Actors

Jordan Micro Credit Company, one of the largest MFIs in Jordan, was established in 1999 and is owned by Noor Al-Hussein / Kind Hussein Foundation, a non-profit, non-governmental organization.  It employs 495 people and serves over 85,000 borrowers, about 86% of which are women, by offering individual and group loans through a network of 34 physical branches and 2 mobile branches spread across urban and semi-rural areas throughout Jordan.

Contact Information

Jordan Micro Credit Company “Tamweelcom”
Ali Abdel Jabbar
Executive Director
+962 6 5354337 Ext. 101
ajabbar@tamweelcom.org
Kheir Al Dein Al Maani Street – Jureesat Centre 2, Amman, Jordan 11214
www.tamweelcom.org

ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/