Small and medium-sized companies represent close to 98 percent of Jordan’s businesses and contribute to the country’s economic growth by creating jobs and through investments and exports. Yet they have little access to investment capital, and this has been a serious impediment to their continued growth. Until recently, Jordan’s commercial banking industry was reluctant to extend capital to small and medium-sized companies due to their perception of the risk involved. Lenders imposed requirements that small companies could not satisfy, such as high collateral, multiple guarantors, and a well-established credit history.
The Baqa’a refugee camp, 20 minutes north of Jordan’s capital, Amman, is home to 120,000 refugees. It is considered one of six “emergency” camps set up in 1968 to accommodate Palestinian refugees and displaced persons who left the West Bank and Gaza Strip as a result of the 1967 Arab-Israeli war. The need to support the camp’s growing population has become more urgent. The camp’s capacity has grown into a community that aims to improve the quality of life for its residents through initiatives that develop skills and trades while generating a source of income to support their families.
Like so many young people in Jordan and around the world, Murad Al Zaghal was in need of opportunities to express his creative voice in a way that contributed to his personal growth.
Last updated: January 26, 2015