WHO IS OUR CLIENT
SANADCOM was founded in May 2017 as a specialized and SME-focused spinoff of Microfund for Women, Jordan's leading privately owned Microfinance Institution. SANADCOM builds on that Microfinance Institution's experience in serving Jordan's Micro and small enterprises. In addition to financing, SANADCOM provides technical assistance to help SMEs develop skills in areas such as bookkeeping and marketing.
A portion of this SME loan is reserved for women and young entrepreneurs. These entrepreneurs are key to creating much needed inclusive economic growth in Jordan, which has received well over one million refugees from Syria in recent years. Small and medium enterprises (SMEs) in general have been identified as a strongly underserved market segment in Jordan, while offering the largest potential in terms of volume and combatting unemployment. By targeting SMEs in both growing and underbanked areas of Jordan, SANADCOM supports job creation where it matters most.
WHY WE FUND THIS PROJECT
Women, young entrepreneurs and SMEs are key to realizing sustainable growth. The loan to SANADCOM fits FMO strategies to empower these entrepreneurs. This investment contributes to, amongst others, Sustainable Development Goals #1 'No Poverty', #2 'Decent Work and Economic Growth' and #10 'Reduced Inequalities'. Also, the investment fits further efforts and activities of the Dutch Government to support economies in the MENA region, specifically in countries which deal with a strong influx of refugees.
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ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism.