ResponsAbility Global Microfinance Fund Provides USD 500,000 to Jordan-based National Microfinance Bank (Alwatani)

responsAbility Global Microfinance Fund, a Luxembourg-based microfinance fund, provided a loan totaling USD 0.5 mn to the National Microfinance Bank (Alwatani) of Jordan. Alwatani is a private shareholding of a non-profit company with the mission of delivering “sustainable financial services to micro and small entrepreneurs in Jordan, particularly women.” It was created as a partnership between King Abdullah II Fund for Development, AGFUND, a nonprofit regional development program, and two private sector investors. As of 31 December 2006, Alwatani has 9,048 active clients, of which 7,179 are female, and reports 9,738 total loans disbursed totaling to the equivalent of USD 10.2 mn. Alwatani reports covering 56% of its costs with operating revenue.