The EU co-funded SANAD Technical Assistance Facility Project (SANAD TAF) has partnered with the international development consultancy Making Cents International, and Jordan’s largest microfinance institution, Microfund for Women (MFW). The goal is to create digital economic identities for Syrian refugees that will facilitate their access to credit both in Jordan and beyond. The pilot project is additionally supported by funding from the Oesterreichische Entwicklungsbank (OeEB), the development bank of Austria.

The pilot program will help Syrian refugees store credit histories, educational certificates, and business information in a blockchain-based digital identity that can be used to gain access to credit or employment. By providing refugees with the means to store and communicate information about their creditworthiness, the SANAD TAF will be advancing its mandate to fuel the growth of micro, small and medium enterprises (MSMEs) from the startup and pre-startup phases into sustainable businesses.

Established in 2011, the SANAD Fund for MSMEs finances micro, small and medium enterprises and low-income households in the Middle East and North Africa via qualified local lenders. SANAD’s investors include the KfW Development Bank and the European Union. The Technical Assistance Facility (TAF) supports SANAD’s mission by providing partner institutions with the hands-on support they need to optimize product offerings, tap new customer segments, adapt to alternative lending technologies, and develop new initiatives.

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Press release