KHF Outreach
New Revolving Loan Funds Signed with CBOs in Muwaqqar, Al Qutraneh, and Al Qweira
20th March 2012
KHF Ex. Dir. Hana Mitri Shahin at signing ceremony with Rakan Al Khudeir of the Nashama Al-Badyh Association

 

Three community based organizations signed agreements on March 19, 2012 with the Noor Al Hussein Foundation's Community Development Program to operate and manage newly established revolving loan funds in the area of Muwaqqar.  This move is part of the Poverty Pockets Empowerment Program, which is funded by the Ministry of Planning and International Cooperation (MoPIC) and managed by NHF's Community Development Program (CDP).

 

The three CBOs which received an initial capital investment of 45-thousand JDs include the Al Shomareya Association for Development and Social Services, the Th'hebet Al Dammam Assocation for Social Development, and the Nashama Al-Badyh Assocation.

 

For the first time these loan products are designed to respond directly to the needs of the 'target' population in Muwaqqar.  Some of the allocated money will be given in the form of a loan that can be spent on a family's basic needs and for home improvements.

 

The remaining funds will go to micro-enterprise loans which in turn promote productivity, self-employment, and entrepreneurship.

 

King Hussein Foundation Executive Director Hana Mitra Shahin remarked, "Through the selected CBOs, we hope to reach the poorest of the poor in Muwaqqar in order to help them establish their own micro-enterprises which will, undoubtedly, promote independence, productivity, self-employment, and entrepreneurship thereby improving their economic and social status.”

 

Last week the CDP signed agreements with 3 CBOs in the area of Al Qutraneh with an initial capital investment of 30-thousand JDs.  The CDP also signed agreements with 2 CBOs in the area of Al Qweira with an initial investment capital investment of 30,000JD.  These funds will also be used to provide loans to families to meet basic needs and home improvements in addition to providing micro-enterprise loans.

 

 

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