Algeria
Egypt
Israel
Jordan
Lebanon
Libya
Morocco
Palestine *
Syria *
TunisiaEU External Investment Plan: two new agreements unlock funding for underserved and displaced entrepreneurs in the region
Today the European Commission, the Dutch development bank FMO, and the Jordanian microfinance institution Tamweelcom have signed two agreements to help train entrepreneurs and support local banks targeting under-served groups, such as women and young people, in particular amongst migrants and displaced people.
The technical assistance agreement with FMO will help implement NASIRA. This is one of
28 financial guarantees backed by the EU External Investment Plan. It was signed by the
European Commission and FMO in December 2018. FMO will co-finance the €4 million
agreement with more than €1 million from its own resources. It will support work in the
EU’s neighbourhood as well as in Sub-Saharan Africa.
The second agreement is being signed by FMO and Tamweelcom, a Jordanian
microfinance institution. By risk-sharing between FMO and Tamweelcom, the latter will be
able for the first time to offer access to finance for income-generating businesses to
Syrian refugee entrepreneurs in Jordan – a group of around 1,300 people – through small
loans of around USD 1,400 to 9,900.
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Countries covered:
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Algeria
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Egypt
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Israel
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Jordan
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Lebanon
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Libya
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Morocco
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Palestine *
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Syria *
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Tunisia
