UNDP and Ruwwad Micro-Venture Fund select 10 participants from Irbid/Ramtha District to fund their microbusinesses

Feb 16, 2014

Pitching session

The United Nations Development Programme (UNDP) in partnership with Ruwwad Micro-Venture Fund (RMVF) conducted on Thursday, Feb 13th 2014 a pitching session in King Abdullah II Fund for Development (KAFD) premises for 23 participants from Irbid/ Ramtha District to discuss the participant’s business ideas and plans with an investment committee that consisted of a number of Jordanian businessmen and representatives from UNDP and the Embassy of Japan. This pitching session comes within the framework of UNDP project titled “Mitigating the Impact of the Syrian Refugee Crisis on the Jordanian Host Communities", which is implemented in coordination with the Government of Jordan and funded by the Government of Japan.

The objective of this project is to contribute to sustaining socialand economic stability, with particular focus on the Northern governorates, namely Irbid and Mafraq, and enable Jordanians to continue to pursue their human development aspirations by Investing in quick-impact interventions for rapid employment creation. In this manner, the project provides the different segments of the hosting communities in Irbid and Mafraq with intensive 6-day training program “Establishing and Managing your own Small Business”, building their capacities in the fields of financial planning, marketing, product sales, environmental sustainability and social impact. Prospective entrepreneurs thus learn to plan and successfully manage their own micro-businesses.

During the last round of training in January, 53 participants from Ramtha District were graduated, from which 23 participants succeeded in moving to the next stage to pitch their business ideas in order to receive technical counselling in addition to funding up to JOD 6,000 (approximately US$ 8,500)to establish and operate their microbusinesses. Quite diverse business ideas were pitched last Thursday by participants such as photography studio, catering kitchen, advertisements production, juices and salads shop, shoes production, blacksmith and glass etching, bridal supplies shop and many other microbusinesses. The best 10 microbusinesses were selected, where the names will be announced by the end of February.

“The investment committee members and I have been truly surprised by the business ideas were presented by the participants. They have proven for us that there are many people in the kingdom’s governorates who are really trying to employ themselves and others from their communities through such productive microbusinesses, but they need support to start their businesses” said Mr.Maher Kaddoura, businessman and one of the investment committee members.

On his part, Mr. Mohammed Jazzy Ta'ani, one of the participants, added: "I am optimistic to get the fund and the technical counselling for my business "Electricity maintenance workshop”. I believe in the necessity of my business in our district. Further, I’m sure that I will be able to get over the quality and price competition that took place in the market with the Syrian laborers”.

Its worth mentioning, the project has succeeded so far in training 176 ambitious individuals from both Irbid and Mafraq Governorates, and also financing 80 microbusinesses. It must be noted, passion, determination and hope were the common characteristic among all participants.

Contact information

UNDP – Rasha Beno,Tel. +962-777-457171 – e-mail: rasha.beno@undp.org

Ruwwad Micro-Venture Fund, Tel. +962-6-47633319 – e-mail: microbusiness@ruwwad.jo

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