UNDP-National Microfinance Bank Partnership Reaches Vulnerable Host Communities

September 29, 2017

Amman, Sept.27 (Petra) --The United Nations Programme (UNDP) in Jordan, in partnership with the National Microfinance Bank and in cooperation with Umniah, started implementing a new electronic payment system using "Mahfazati E-wallet" application.

The new application is provided by Umniah for participants in the " Demand-Driven Vocational Training, employment, and Entrepreneurship Skills Development" program in Zarqa governorate. It aims to facilitate payment of incentives and capital payments by transferring them automatically to participants’ E-Wallet accounts on which they were trained to manage and use.

UNDP is considered to be one of the pioneering international organizations in Jordan which has recently started to transfer payments electronically, aiming to ensure that participants receive their financial dues In a Secure, safe and fast manner and promote a culture of saving as they receive incentives and capital payments in their E-wallet as opposed to direct cash payments which might positively change their spending habits and encourage saving. The new approach will also bring youth up-to-date with the latest technology.

The participants expressed their happiness with the new service and no complaints were made to Umniah about the usage of their application so far. counting on the success of the service implementation in Zarqa Governorate, UNDP plans to extend the E-wallet experience to all the projects that involve cash payments to participants from various governorates in the near future.

Cooperation between UNDP Jordan and the National Microfinance Bank started in 2014, NMB has provided participants with a wide range of financial services which include the transfer of savings, incentives and capital for the livelihood intervention. They have also provided non-financial services such as financial guidance and financial literacy awareness sessions for individuals and institutions as well as reviewing business plans for entrepreneurs.

It is worth mentioning that UNDP Jordan has graduated approximately 2,300 young men and women and helped increase the income of participants in the employment and job creation program by 54% in addition to creating 850 micro-businesses for some of the participants in the self-employment track.
 
 
Petra News Agency
September 27, 2017