Member Triodos Investment Management recently announced that Triodos Microfinance Fund and Triodos Fair Share Fund have provided a USD 2.2 million debt facility to United Liwwa (Liwwa) in Jordan, an innovative fintech company that provides fast, affordable credit to small businesses via a ‘tech and touch’ approach.
Access to finance remains one of the key challenges for small and medium-sized enterprises (SMEs) in the wider Middle East and North Africa (MENA) region, including Jordan. High transactional costs, risk of funding and lack of understanding of the SME business environment have been the main factors preventing commercial banks from operating in that space.
Fadoua Boudiba, Regional Manager at Triodos Investment Management, commented, “Liwwa combines a balanced ‘tech and touch’ approach with a clear mission to deliver job and income growth in Jordan. We very much value this balanced ‘tech and touch’ approach and Liwwa’s clear mission to deliver job and income growth in Jordan. Our debt facility allows Liwwa to further increase its outreach.”
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