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.
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 not provided at the time of disclosure*
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