USAID Press Release: First Lady and Queen Rania of Jordan Present Awards to Microentrepreneurs

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This is an archived USAID document retained on this web site as a matter of public record.

First Lady Hillary Rodham Clinton and Queen Rania of Jordan Present Awards to Jordanian Microentrepreneurs

U.S. AGENCY FOR INTERNATIONAL DEVELOPMENT
PRESS RELEASE

WASHINGTON, DC 20523
PRESS OFFICE
http://www.usaid.gov
(202) 712-4320
99-161
FOR IMMEDIATE RELEASE
Contact: Gabrielle Bushman
Friday, November 12, 1999
AMMAN, Jordan -- First Lady Hillary Rodham Clinton and Her Majesty Queen Rania Abdullah of Jordan presented awards to successful microentrepreneur practitioners at the first annual Jordan Microentrepreneurs Awards Ceremony, held at the Institute of Banking Studies. Award recipients included microentrepreneurs, loan officers and microfinance institutions.
In her speech, the First Lady praised microenterprise programs, noting that they improve the ability for parents to feed, clothe and educate their children and to ultimately improve the well being of their families and communities. Her Majesty Queen Rania discussed both the importance and growth of Jordan's sustainable microfinance industry.
The First Lady also highlighted the work of the U.S. Agency for International Development (USAID), which funds four successful microfinance institutions in Jordan. These institutions collectively operate more than 24 microfinance offices throughout the Kingdom, with the number of borrowers is increasing by 60% per year. In 1999, there were more than 10,000 borrowers, and that number is expected to grow to more than 25,000 active borrowers, half of whom are women, by 2001.
Mrs. Clinton and Her Majesty Queen Rania were presented baskets containing a variety of products from Jordanian businesses that have received microfinance loans.
Also attending the ceremony were Ambassador to Jordan William J. Burns, Lewis W. Lucke, Mission Director, USAID/Jordan and other Jordanian dignitaries.
USAID'S MICROFINANCE PROGRAM IN JORDAN
An important element of the USAID/Jordan's efforts to increase economic opportunities for Jordanians is the microfinance program. The objective is to develop and sustain a private sector-led, micro-finance industry by providing access to financial services for small businesses and micro-enterprises, the majority of which are women-owned. Following are descriptions of USAID's four partner microfinance institutions in Jordan:
Cooperative Housing Foundation ($6.9 million)
This U.S. non-governmental organization is working in partnership with the Jordan River Foundation, the Jordan National Bank, the Bank of Jordan and the Cairo Amman Bank to provide sustainable microfinance loans in southern Jordan. CHF began its lending program in December 1998 and disbursed nearly 3,000 individual and group loans in its first year of operations.
Jordanian Women's Development Society ($1.3 million)
Jordanian Women's Development Society is an independent non-governmental organization. Utilizing a group-lending approach, JWDS operates a highly successful lending program that targets women-owned businesses, the fastest growing segment of micro-entrepreneurs. Since April 1997, JWDS has provided $5 million in loans to nearly 20,000 women borrowers.
Jordan Micro Credit Company ($1.2 million)
Jordan Micro Credit Company is a new non-profit company created by the Noor Al-Hussein Foundation. JMCC has begun sustainable individual lending programs in central and in East Amman, and will gradually expand its program over the next three years to northern and central Jordan.
Ahli Microfinancing Company ($1.4 million) As a newly created subsidiary of the Jordan National Bank, Ahli Microfinancing Company will expand its individual loan services to East Amman and northern Jordan as part of the bank's strategy to broaden its customer base to include micro-entrepreneurs. The bank recently began providing microfinance services in southern Jordan through a partnership with the Cooperative Housing Foundation. Microfinance lending is a new and previously untapped market for commercial Jordanian banks.

This is an archived USAID document retained on this web site as a matter of public record.

Last Updated on: July 12, 2001