• Jordan
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
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
Apr 23, 2021
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.
Bank Al Etihad
The holder of the loan, grant, or other investment.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 28.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 28.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 19.92
Converted using 2021-04-23 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 19, 2021

Disclosed by Bank Oct 13, 2020

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Project Description

According to bank provided information, the project objective is to support Bank Al Etihad with an up to USD 30mln JOD equivalent NASIRA Risk Sharing Facility combined with a NASIRA Capacity Development package earmarked for COVID-19 affected entrepreneurs and focusing on female entrepreneurs.

Investment Description
Financial Intermediary
Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description

Bank Al Etihad was founded in 1978 under the name Union Bank, mostly focusing on the Corporate segment. With the support of McKinsey, it changed the name to Bank Al Etihad in 2011 and rebranded itself as a bank expanding its offering with new innovative services to tap into the Jordan’s growing retail and SME markets. Bank Al Etihad (“BAE” or “the Bank”) is now an established name in the Jordanian banking sector, being the 4th largest bank with 24 branches and a total asset size of USD 6.7bln. BAE has a strong focus on reducing inequalities which is demonstrated by its active membership of the Global Banking Alliance and the launch of its comprehensive program to empower female entrepreneurs. Besides the Bank, it owns a brokerage, leasing and Islamic banking company enabling it to offer a full range of services to its clients.

Contact Information

*Contact information not provided at the time of disclosure*


As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: 


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: