Our Partners
YEMEN
Yemen has a population of 22.8 million and is one of the poorest countries in the Arab world. It is marked by a very young population (near 44% of the population is under 14 years old), widespread unemployment estimated at 35%, and significant poverty with 46.6% of the population living on less than US$ 2 a day. . Human Development Index gives the country a rank of 140th out of 182 countries in 2009.
Access to credit through MFIs is one among several key elements that will promote increases in the incomes of poor rural households. However, as of 2010, microfinance penetration was just 2% of the estimated market, leaving more than 2 million potential microfinance clients un-served.
The 2009 passage of Microfinance Banking Law No. 15, which enables the establishment of microfinance banks that can offer a broad range of microfinance services, has created an exciting new opportunity to develop and expand the industry in Yemen. Two microfinance banks have obtained license under law 15.
Grameen-Jameel is a partner with the following microfinance institutions:
Yemen Women’s Union – Abyan Governorate (Abyan)
National Microfinance Foundation (NMF)
Yemen Women’s Union – Abyan Governorate, Self Help Group Programme(Abyan): Abyan began its lending operations in October 2003 under the Ministry of Labor and Social Affairs, to “Improve the income of the poor families in Abyan governorate specially women through introducing financial services for the clients.” Abyan works in five districts in the Abyan governorate of Yemen, which is located in the south near Aden, largely inhabited by the Bedouin. Abyan recently expanded its operations into Hadramout Governorate.
As of September 2010, Abyan reached 6,120 clients and maintained a gross loan portfolio of US $0.63 M.
Abyan became a Grameen-Jameel partner in February 2007. Grameen-Jameel has provided a direct loan and various technical assistance, including training and peer exposure visits.
National Microfinance Foundation (NMF): NMF began in 2002 as an experimental program following the ASA (NGO in Bangladesh) microfinance methodology and was established as a Foundation in 2004. Its vision is “To increase the income of poor and low income families, as well as micro entrepreneurs, and make them become self-reliant,” and its mission is “Improving the income of micro entrepreneurs, especially women, in the rural and urban areas of Yemen through effective and sustainable financial services that meet the needs of customers.”
NMF is the largest MFI in Yemen. As of September 2010, NMF reached 16,907 clients through 12 branches in 7 (out of a total 21) governorates. By 2013, it aims to open 28 branches across the country. NMF has been rated C+/Positive Outlook by Planet Rating in October 2009.
NMF became a Grameen-Jameel partner in December 2009. Grameen-Jameel jointly with SFD provided NMF with a rating completed by Planet Rating, in addition to other technical assistance to help NMF strengthen its processes.
For further information on NMF, please refer to their website: www.nmfy.org