Strategy of MEII
MEII’s objective is to increase access to finance for small and medium sized businesses (SMEs) in Jordan, and decreasing barriers to financial inclusion for over 90% of small businesses in Jordan.
SME’s in Jordan
The economy in Jordan depends almost entirely on small and medium sized companies to drive its economy. AS of 2011, about (98%) of all businesses in Jordan are classified as SME's, two third of which have less than (19) employees.
Although Jordan's banking sector witnessed a year of satisfactory banking activity growth coupled with adequate financial standing in 2014, access to finance and finding financial resources is still considered one of the main challenges for SME’s in Jordan.
The World Bank’s Doing Business Report ranked Jordan 167 out of 185 countries in the Getting Credit Indicator, in 2013.
The percentage of adults with an account was only 25% in 2011. Only 17% of women have an account with a formal financial institution. The percentage of adults who have taken a loan in 2011 was a low 4%. This percentage for women corresponds to nearly 4%.
Areas of Focus