Our Partners
JORDAN
Jordan’s estimated population is 6.4 million, making it one of the eight countries in the Middle East with populations below 10 million. The rate of population earning below 2 USD per day is estimated at 3.5% (World Bank, 2008). The country faces challenges with insufficient supplies of water, oil and high human development disparity between regions and urban vs. rural areas and unemployment of young adults (estimated at 28.7%, for the young people aged 20 to 24 years old, almost twice the national average). Human Development Index gives the country a rank of 96th out of 182 countries in 2009.
Estimated market potential for microfinance is approximately 250,000 potential clients, of which around 75% are currently served by the sector.
Grameen-Jameel entered the market in early 2008 with the country’s first guarantee transaction, which formed the basis of its first partnership with a Jordanian MFI, Jordan Micro Credit Company (Tamweelcom). Grameen-Jameel serves through its partner about 24% of the total market (of a total of 187,000 clients reached by MF) as of September 2010.
Jordan Micro Credit Company (Tamweelcom): Tamweelcom is a non-profit, Limited Liability Company established in 1999. Although, capitalized by a USAID grant, the company is fully owned by the Noor Al-Hussein Foundation (NHF), an NGO set up by royal decree to improve the quality of life of Jordanian citizens. NHF operates as an independent entity under the umbrella of the King Hussein Foundation.
As of September 2010, Tamweelcom had 45,110 borrowers and a gross loan portfolio of US $18 million, placing it as the largest MFI in Jordan. In 2009, Tamweelcom received an A/Stable Outlook and its social performance is rated 3+ by Planet Rating. Tamweelcom was rated #60 in the 2009 Mix Global 100 composite list of top MFIs worldwide.
In 2008, Grameen-Jameel provided Tamweelcom with its first and the country’s first guarantee amounting to approximately US$ 900K, which helped facilitate financing of almost US$ 2.8 million. In 2009, Tamweelcom participated in Grameen-Jameel partner training, and in 2010, Grameen-Jameel provided a Human Capital Management (HCM) Assessment.
For further information on Tamweelcom, please refer to their website: www.tamweelcom.org