According to bank provided information, FMO has supported CBoJ with a USD 20mln in JOD equivalent unfunded revolving Risk Sharing Facility (“RSF”). The RSF covers loans to COVID-19 affected MSMEs and young entrepreneurs in Jordan. The Guaranteed Portfolio is earmarked to loans originated through alternative MSME lenders (Liwwa and Sanadcom) increasing their ability to get access to funding from a local Tier 1 bank.
Capital Bank of Jordan (“CBoJ”) is the #7 largest bank in Jordan, with the largest growing SME portfolio of Jordan (20% of loan portfolio). Total Assets amount to ~USD 4 billion. Together with its subsidiaries in Dubai (100%) and Iraq (61.85%), Capital Bank Group offers commercial and investment banking services and solutions tailored to the needs of individual, SME and corporate clients alike. CBoJ is committed to become the #1 digitally enabled bank of Jordan that can offer the most (cost) efficient services to its clients. With the support of a variety of partnerships, the CBoJ aims to grow and capture an increasing (MSME) market share. CBoJ’s strategy is to serve multiple market segments by setting up partnerships with fintechs, MSME lenders, etc. As such, it broadens its target market while ensuring it can serve its clients in an efficient and dedicated way.
*Contact information not provided at the time of disclosure*
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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