SANADCOM
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
SANADCOM was founded in May 2017 as a specialized and SME-focused spinoff of Microfund for Women, Jordan’s leading privately owned Microfinance Institution. SANADCOM builds on that Microfinance Institution’s experience in serving Jordan’s Micro and small enterprises. In addition to financing, SANADCOM provides technical assistance to help SMEs develop skills in areas such as bookkeeping and marketing.
What is our funding objective?
A portion of this SME loan is reserved for women and young entrepreneurs. These entrepreneurs are key to creating much needed inclusive economic growth in Jordan, which has received well over one million refugees from Syria in recent years. Small and medium enterprises (SMEs) in general have been identified as a strongly underserved market segment in Jordan, while offering the largest potential in terms of volume and combatting unemployment. By targeting SMEs in both growing and underbanked areas of Jordan, SANADCOM supports job creation where it matters most.
Why do we fund this investment?
Women, young entrepreneurs and SMEs are key to realizing sustainable growth. The loan to SANADCOM fits FMO strategies to empower these entrepreneurs. This investment contributes to, amongst others, Sustainable Development Goals #1 'No Poverty', #2 'Decent Work and Economic Growth' and #10 'Reduced Inequalities'. Also, the investment fits further efforts and activities of the Dutch Government to support economies in the MENA region, specifically in countries which deal with a strong influx of refugees.
More investments
| Date | Total FMO financing |
|---|---|
| 1/23/2019 | EUR 0.02 MLN |
- Region
- Asia
- Country
- Jordan
- Sector
- Financial Institutions
- Effective date
- 10/6/2017
- End date
- 9/8/2021
- Total FMO financing
- JOD 5.00 MLN
- Funding
- MASSIF
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C