According to bank provided information, the proposed project includes an investment in local currency of up to US$5 million to Jordan Micro Finance Company (“Tamweelcom” or the “Company”) in the form of a senior term loan with a maturity of three years and a grace period of one year. The project is processed under IFC’s Base of the Pyramid Program. The proceeds of the loan would be utilized by the Company to support its lending program to micro and very small enterprises.
The project consists of an investment of up to US$5 million in the form of a local currency senior term loan with maturity of three years and a grace period of one year. The project is processed under IFC’s Base of the Pyramid Program, US$400 million facility to support NBFIs and Microfinance Institutions through pandemic recovery.
Tamweelcom was established in 1999 as a non-profit limited liability company. The Company was named the “Jordanian Company for Financing Micro Enterprises” at the establishment, and in 2018, Tamweelcom was licensed by the Central Bank of Jordan under the microfinance regulatory framework and changed its name to “Jordan Micro Finance Company “. The Company is wholly owned by Noor Al-Hussein Foundation, an NGO founded by a Royal Decree in 1985 as an implementing arm of the King Hussein Foundation (“KHF”)’s community development initiatives to support low-income entrepreneurs in the remote areas.
Over the years strengthened its market position and grew to be one of the leading MFIs in Jordan operating through 39 branches covering all regions and main populated areas of the Kingdom. By 2020, Tamweelcom was serving 90,000 borrowers (80% women) with a gross loan portfolio of US$74.7million, representing market share of 20% and 21%, respectively.
Jordan Micro Finance Company “Tamweelcom”
Chief Executive Officer
+962 6 5354 337/8 Ext. 101
Jureisat Center 2, No 29 King Abdullah II Street – Al Muwasafat Wa Al Maqayees, Kheirdine Maani street, 11190, Amman, Jordan
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