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The Grameen Cr\u00e9dit Agricole Foundation is providing $2 million in funding to the microfinance institution FINCA Jordan as part of a partnership with CoopMed. This transaction is part of a long-term collaboration between the Foundation and FINCA International.<\/p>\n
Since 1985, the FINCA International network has been promoting access to finance for low-income people. With 1.9 million clients in over 20 countries, it operates in Africa, the Middle East, Eurasia, Latin America, and the Caribbean. Over the past 30 years, it has supported the entrepreneurial projects of over 4 million borrowers, primarily women.<\/p>\n
Founded in 2007 in Jordan, FINCA Jordan MFI has nine branches and 29,000 clients. With an average loan of $1,550, outstanding loans total $29 million. It offers financing tailored to small and medium-sized businesses, as well as solidarity and individual loans.<\/p>\n
FINCA Jordan has become a new partner of the Foundation as part of a partnership between the Grameen Cr\u00e9dit Agricole Foundation and Inpulse, a social impact fund manager. FINCA Jordan, which is both socially efficient and economically viable, has received $2 million in funding.<\/p>\n
The Grameen Cr\u00e9dit Agricole Foundation is strengthening its presence in the Middle East through this initiative. Operating in 30 countries, the Foundation continues its efforts to provide access to finance for people traditionally excluded from the banking sector. With this partnership, Inpulse, which has an investment capacity of \u20ac58 million, is also strengthening its presence and activities in one of its 14 countries of operation.<\/p>\n
This joint venture, funded by two European impact investment players, illustrates the value of partnerships in inclusive finance. Based on a shared set of fundamental values, the Grameen Cr\u00e9dit Agricole Foundation, Inpulse, and FINCA International are pursuing a path forward: a more inclusive economy strengthened by those who believe in the strength and virtue of alliances.<\/p>\n