Empowering Jordanian SMEs: liwwa Secures $5 Million Loan Agreement with DFC

Empowering Jordanian SMEs: liwwa Secures $5 Million Loan Agreement with DFC

By Press Release, 24 May 2024

In a significant stride towards advancing financial inclusion and bolstering small and medium enterprises (SMEs) in Jordan, liwwa is excited to announce the signing of a $5 million loan agreement with the United States International Development Finance Corporation (DFC). 

This collaboration marks a pivotal moment in furthering the growth and sustainability of SMEs in Jordan. Despite accounting for 80% of Jordanian business, SMEs face persistent challenges in accessing the funding required for growth. This partnership with DFC underscores liwwa's continued commitment to addressing the financing needs of under-banked SMEs, enabling them to thrive and contribute to economic prosperity. 

The $5 million loan agreement aligns with DFC's mandate to support private sector development and promote economic stability in emerging markets. By partnering with liwwa, DFC aims to enhance the resilience of SMEs in Jordan, catalyzing job creation and fostering socio-economic progress. 

Maryam Khosharay, Acting Vice President of DFC's Office of Small Business and Financial Services, said, “DFC is pleased to partner with liwwa to promote lending to underserved small and medium sized businesses in Jordan. This partnership will help unlock working capital to help grow businesses, create jobs, and improve livelihoods.” 

Commenting on the significance of this collaboration, Dennis Ardis, CEO of liwwa, stated, “We are incredibly proud of our partnership with DFC. We appreciate the trust placed in us and are committed to leveraging the facility to drive positive impact and sustainable growth." 

This strategic initiative builds upon liwwa's track record of success in the Jordanian financial technology (fintech) ecosystem, where it has facilitated access to finance for numerous SMEs across various sectors. Through its cutting-edge technological platform and customer-centric approach, liwwa remains dedicated to empowering entrepreneurs and driving economic transformation.


Send us your press releases to shareyournews@lucidityinsights.com

Related Report

Dubai’s Digital Economy and Startup Ecosystem

Dubai’s Digital Economy and Its Expanding Startup Ecosystem

Dubai’s startup ecosystem will have raised over US $2 billion when 2022 is over, and self-employed and digital economy roles in the country have tripled in size. Learn from some of the hottest home-grown startups and global transplants about why Dubai is well-positioned to become the next digital economy capital of the world.

Subscribe To Our Newsletter

Stay up to date with the latest news, special reports, videos, infobytes, and features on the region's most notable entrepreneurial ecosystems