Access to Finance Is a Key Tool for the Economic and Social Empowerment of Women and Youth

On April 7th, 2021, the National Association for Family Empowerment (NAFE) organized a roundtable discussion titled “Savings and Loan Groups: Towards Sustainable Small businesses”. NAFE implemented Savings and Loan Groups project with support from the Canadian organization MEDA’s Jordan Valley Links Project (JVL), funded by the Global Affairs Canada-(GAC). During the project life, NAFE has formed over 250 Savings and Loan Groups (SLGs) comprising about 5000 women and Youth.

The meeting was attended by the representatives from the ministry of Social Development, members of Savings and Loan groups (SLGs), project mobilizers, managers of 6 business hubs, NAFE CEO, MEDA Country Director and JVL Access to Finance Specialist.

This roundtable organized as part of JVL’s exit plan to ensure sustainability and continuity of the of the SLGs beyond the project duration. NAFE presented the most significant achievements of the project, led a discussion on challenges and lessons learned, as well as drawn recommendations to increase participation of women and youth in the economic sector.

The roundtable discussants highlighted importance of financial inclusion of the unbanked women and youth to mainstream them different income generating activities and contribute to Jordan’s economy. The representative from Ministry of Social Development appreciated such project and requested to replicate and scale-up SLGs in other areas.

At the end Trophies were distributed to the business hubs’ managers who played an important role in reaching project achievements.

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