📋 Tender Overview
Location:
Jordan
Project number:
56022
Business sector:
Financial institutions
Notice type:
Private
Environmental category:
FI
Approval date:
25 Feb 2025
Status:
Approved
English-language PSD published:
28 Feb 2025
Project Description
Provision of a senior unsecured loan to MicroFund for Women ("MFW") of up to USD 4 million, of which up to USD 3 million to be provided by EBRD and up to USD 1 million by the Green Climate Fund ("GCF") under the GCF-Green Economy Financing Facility ("GEFF") Regional Framework.
Project Objectives
Proceeds of the loan will be allocated to climate change mitigation and adaptation technologies by local micro, small and medium enterprises, including women-led, in line with the standards and reporting requirements for GEFF in Jordan.
Transition Impact
ETI score: 70
The project will support the Green TI quality by contributing to the objective of the GCF GEFF Jordan Programme by facilitating the direction of funding towards climate mitigation and adaptation technologies and services that will drive the transition to environmentally sustainable, low-carbon and climate-resilient economies.
Client Information
MICROFUND FOR WOMEN
Microfund for Women is the largest microfinance institution in the Jordanian market, serving 120,000 clients through its 63 branches in Jordan (of which 45 outside Amman). Given its focus on underserved populations, more than 96% of MFW's clients are women (highest across the MFI sector) who use their loans for their start-ups or to expand their businesses and promote their products and services on a larger scale within their communities. Nevertheless, male clients are neither excluded nor prevented from benefitting from the institution's services.
EBRD Finance Summary
USD 3,000,000.00
Total Project Cost
USD 4,000,000.00
Up to USD 4 million, out of which up to USD 3 million to be provided by EBRD and up to USD 1 million to be co-financed by Green Climate Fund ("GCF")
Additionality
The project offers a combination of longer-term financing and bespoke technical cooperation into a package that promotes targeted investment in sustainable energy in Jordan in a gender-responsive way.
Environmental and Social Summary
Categorised FI (ESP 2019). MircoFund for Women (MFW), an existing client, has demonstrated satisfactory environmental and social (E&S) performance under its current exposures. The proceeds will be used for MFW's second GCF GEFF Regional programme, financing investments in climate change mitigation and adaptation technologies by local MSMEs, which is considered low risk from an E&S perspective. MFW's monitoring and evaluation department and credit team conduct E&S due diligence, broadly aligned with EBRD Performance Requirement (PR) 9. MFW obtained the ISO 9001:2015 Quality Management Certificate in 2022 and publishes its annual report on its website. MFW's existing environmental and social management system is deemed commensurat
