Amman – Microfund for Women (MFW) has recently entered into a strategic partnership with the ‘Mesh Mostaheel’ program, an initiative of ‘Newthink’, in partnership with Ro’ya TV, Partners for Good with Parachute 16, as the innovative partner. The program is considered the world's first and largest brainstorming program, dedicated to involving society in solving the challenges it faces. The partnership aims to solidify MFW’s commitment to supporting initiatives that will afford all members of society, especially women, the opportunity to participate in creating innovative solutions to the challenges facing Jordanian society. The program grouped these issues into 12 different challenges, whereby the program filters out the best ideas and presents them in a weekly television program before a panel of judges, in order to choose the best idea addressing each challenge, to then be adopted and applied in actuality.

Through this partnership, MFW strives to highlight constructive ideas and innovative solutions to meet the challenge of ‘managing and controlling water and electricity bills’, and decrease resource consumption, as improper practices and a lack of awareness lead to an increase in water and electricity bill sums, which in turn, further burdens the Kingdom and its citizens. MFW has consistently contributed to finding solutions to such challenges, as all its beneficiaries are provided with home-improvement loans, designed specifically to help improve homes, make important changes, and instigate the use of energy-saving techniques. As part of this challenge, MFW will also provide a range of tips and advice across its social media platforms in order to raise awareness about the importance of saving water and electricity, which will not only reduce the total value of bills for consumers, but will also preserve the right of future generations to their share of Jordan’s resources.

On this occasion, Managing Director of MFW, Muna Sukhtian stated, “We are delighted to be partnering with the Mesh Mostaheel program, which will encourage all members of society, especially women, to find innovative solutions to the challenges we face. This collaboration will also serve to reaffirm that every individual is capable of influencing change in their society, as well as contributing to a culture of collaborative action and a sense of cooperation among various segments of society, in order to solve these challenges." She added, "As most of our beneficiaries are home-based business owners, we have chosen the ‘Water and Electricity Bill’ challenge, to  help support them in changing the way they deal with water and electricity, thereby reducing consumption, saving on the total value of their bills, and ultimately improving their profit and the financial return of their respective projects."

On his part, the Founder of Newthink, and the innovator behind the Mesh Mostaheel program, Maher Kaddoura, said, "The distance between a dream and reality is called work, and this is the main objective of this initiative. We all must be part of the solution and not stand idly by in the face of challenges, as participation is the basis for the advancement of society.”

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About Microfund for Women

Microfund for Women (MFW) is a private non-profit company registered under the Ministry of Industry and Trade that operates under Tanmeyah - Jordan Microfinance Network. MFW began its operations in 1996 and is considered one of the leading companies to provide financial services to low-income, small business owners in Jordan in order to empower women economically and socially, so they become active members of society. To date, over 140,000 people, 96% of whom are women, have benefited from MFW served by over 700 employees spread over 60 branches across the Kingdom.

For more than two decades, MFW has granted over one million loans valued at more than JOD 450 million. MFW seeks to offer its products and services in innovative and transparent ways, on par with international standards through easy and accessible procedures.

MFW also provides non-financial services, which include the ‘Himaya Protection Program’, a life insurance product designed to assist low-income households to cope with uncertainties. In addition, MFW offers ‘Afiatuna’, a first-of-its-kind in the region that aims to lower hospital expenses as a result of health emergencies. 

In 2012, MFW received the Mohammad Bin Rashid Award for Young Business Leaders Award as the Best Fund to Serve Women in the Arab World. In 2011, it was presented with the Grameen-Jameel Award for Financial Sustainability in the Arab World, in addition to the Innovation and Development of Microcredit Products Award in the Arab World in 2012. In 2014, MFW won the Women’s World Bank Excellence in Leadership Award, as well as the Transparency Award from Sanabel - The Microfinance Network of Arab Countries in 2016. Moreover, MFW received an ‘A’ rating in Financial Performance and a ‘4-‘(out of 5) rating in Social Performance from Planet Rating, thereby topping 400 local microfinance institutions.

Website: www.microfund.org.jo

© Press Release 2018