In Jordan, the COVID crisis has made circumstances even more difficult for entrepreneurs running micro, small and medium-sized enterprises (MSMEs): 87% of MSMEs have seen their revenues drop, and 44% are struggling to pay their operating expenses. Women have been the hardest hit. In the current climate, access to financing remains a major stumbling block.
In response to this situation, Dutch development bank FMO and the European Union want to support Bank al Etihad (BAE), a Jordanian institution that launched the Shorouq program in 2014, a banking offer entirely for women.
The consortium led by DID includes Business & Finance Consulting (BFC), MSC and AdVision. Its mission is to strengthen the BAE's internal capacity in order to boost the impact of the Shorouq program and improve access for Jordanian women entrepreneurs affected by COVID-19 to financial and non-financial services that are tailored to their needs.