Badran promotes micro-projects

AMMAN — Beneficiaries from microfinance services need a comprehensive framework that extends beyond financing to necessary rehabilitation, training and guidance to support micro-projects, Reem Badran, chairman of the board of directors at the National Microfinance Bank (NMB), said Monday. 

Badran was speaking during a ceremony, held under the patronage of Prime Minister Abdullah Ensour, to launch NMB’s initiative to support productive projects “from micro into small”.  

Ensour honoured Fatmeh Alwan, Alia Shawabkeh, Dirgham Abu Khourma, Fawzia Ramadneh, Samar Samardali and Tirez Samawi, who managed to achieve success through the loans they received from NMB. 

According to Badran, NMB was able to document 100 projects that managed to grow from micro-projects into small and medium-size projects, or have the potential to reach this category. 

She indicated that NMB, since its opening in 2006, has offered more than $200 million in loans to 205 borrowers, 90 per cent of whom were women beneficiaries. 

The bank’s branches have increased from nine in the past year to 20 this year, spread over all governorates in the Kingdom, Badran noted. 

NMB is committed to graduating 2,000 beneficiaries from this initiative in the coming five years with the support and cooperation of the Arab Gulf Programme for Development (AGFUND) which will copy this NMB experience in similar banks under AGFUND  in Yemen, Bahrain, Syria, Lebanon, Palestine, Sudan and Sierra Leone, she said.

AGFUND Deputy President Yousef Bassam briefed the audience on the characteristics of AGFUND, which was established in 1980 by an initiative of HRH Prince Talal Bin Abdul Aziz. 

Bassam said that AGFUND focused on comprehensive programmes to achieve a growth based on equality through five programmes: early childhood development, women empowerment, improving civil community roles, youth investment through founding Arab Open University and money integration to fight poverty. 

AGFUND established banks for the poor in nine countries to achieve social security, fight poverty and providing job opportunities through establishing productive projects, Bassam added. 

The ceremony was attended by Abdulatif Hamad, managing director of Arab Fund for Economic and Social Development, members of NMB and Arab workers in the development sector.