In a stride towards advancing financial inclusion and bolstering small and medium enterprises (SMEs) in Jordan, liwwa announced the signing of a $5 million loan agreement with the United States International Development Finance Corporation (DFC).
This collaboration marks a pivotal moment in furthering the growth and sustainability of SMEs in Jordan. Despite accounting for 80% of Jordanian business, SMEs face persistent challenges in accessing funding required for growth. This partnership with DFC underscores liwwa’s continued commitment to addressing the financing needs of under-banked SMEs, enabling them to thrive and contribute to economic prosperity.
The $5 million loan agreement aligns with DFC’s mandate to support private sector development and promote economic stability in emerging markets. By partnering with liwwa, DFC aims to enhance the resilience of SMEs in Jordan, catalyzing job creation and fostering socio-economic progress.
Maryam Khosharay, Acting Vice President of DFC’s Office of Small Business and Financial Services said,
“DFC is pleased to partner with liwwa to promote lending to underserved small and medium sized businesses in Jordan. This partnership will help unlock working capital to help grow businesses, create jobs, and improve livelihoods.”
Commenting on the significance of this collaboration, Dennis Ardis, CEO of liwwa, stated,
“We are incredibly proud of our partnership with DFC. We appreciate the trust placed in us and are committed to leveraging the facility to drive positive impact and sustainable growth.”
This strategic initiative builds upon liwwa’s track record of success in the Jordanian fintech ecosystem, where it has facilitated access to finance for numerous SMEs across various sectors.
Featured image credit: liwwa Linkedin
