Jordan Times
Tuesday, July 10, 2007
Microfund for Women offers first leasing product to micro and small entrepreneurs
Microfund for Women (MfW), a local microfinance institution, launched a new leasing product, allowing micro- and small-entrepreneurs to acquire fixed assets crucial to the development and expansion of their ventures in easy and swift conditions. This is the first time such product is launched at the micro-level in the Middle East. “We are aiming to reach new untapped segments through the launch of this product,” says Arije Al Amad, general manager of MfW, “this initiative has set us as pioneers in the domain in the Middle-East”. The launch of the new leasing product is lined up as one of MfW’s tactics aiming to achieve the over-reaching goal of providing its clientele with a diversified and exhaustive set of services, targeting mainly micro- and small-entrepreneurs and especially women. Through its 11 years of experience, MfW has granted more than 180,000 loans to female and male micro-entrepreneurs throughout the Kingdom, with loans amounting to no less than JD52 million, contributing significantly to the development of the country and to combating unemployment and poverty.