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CGAP announced the five winners of this year’s Pro-Poor Innovation Challenge (PPIC) Round IX. MFN would like to congratulate our member from Jordan, Tamweelcom, to be selected one of them.
The winners were selected from an applicant pool of over 200 organizations and MFIs around the world. Each winner receives $50,000 to assist in developing existing and future partnerships that link financial and non-financial services to reinforce the economic activities of the very poor. Other four winners are BRAC (Southern Sudan), Farm Concern (Kenya), FINCA (Afghanistan) and Armenian Habitat (Armenia).
Tamweelcom has partnered with Vocational Training Corporation (VTC) to provide complementary nonfinancial services to Tamweelcom's microfinance clients by offering proper training for vocational professions. The initiative targets poor clients and unemployed youth enrolled at VTC, who want to start microenterprises.
VTC offers training courses in various fields. At the end of the training period, candidates enroll in a business development services course to learn how to manage their own enterprises. VTC then gives candidates recommendations, enabling them to become eligible for microfinance services from Tamweelcom. Tamweelcom loan officers work with these clients to provide them with financial literacy education. They also assess and advise clients on entrepreneurship and financing options, expertise enhancement, and market opportunities, according to economic and competition conditions. The project builds on existing programs in Jordan to bridge a gap in the market between skilled people and lack of finance to fund their potential new projects and businesses.
The project builds on existing programs in Jordan to bridge a gap in the market between skilled people and lack of finance to fund their potential new projects and businesses.
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