Nomou Jordan Fund

About the Nomou Jordan Fund

The Nomou Jordan Fund (NJF) was launched in 2014 to support the development of the country’s SME sector. It prioritises investments in women-owned and employment-intensive businesses to create maximum impact. The Fund’s mandate also includes a strong focus on investing in businesses owned by – or employing – refugees or migrants.

Investors & Funders

Performance of the Nomou Jordan Fund

After a difficult year in 2018, the Fund resumed investment activity during 2019 and managed to disburse US$ 1.6m bringing the total investment to date at US$ 22.5m in 40 clients through 52 transactions. The Fund’s gross portfolio asset under management stood at US$ 16.6m at the end of 2019.

The Nomou Jordan Fund has succeeded in generating positive community impact and by the end of 2019 it had supported a total of 1,501 direct jobs – which translates into 2.360 total jobs supported across the supply chain with 11,500 livelihoods sustained. During 2019, the Fund provided business support to 536 entrepreneurs and added 171 new jobs to its employment base.

The Fund also contributes towards tackling the country’s high unemployment rates, namely among women and the youth, with investees counting 40% women and an estimated 25% youth in their workforce.

The Fund’s unique approach and concentrated efforts have attracted high quality development finance institutions such as KfW, The Lundin Foundation, the Dutch Good Growth Fund (DGGF) and the Soros Economic Development Foundation (SEDF) as investors. The resources committed by these institutions to the Fund allowed further outreach to marginalised communities and refugees in Jordan.


The economic situation in Jordan remained challenging at the end of 2019. In March 2020, the International Monetary Fund (IMF) approved a four-year Extended Fund Facility (EFF) arrangement for Jordan to support an ambitious macroeconomic and structural reform agenda. This would be mainly centred on increasing growth, stimulating job creation, strengthening external and fiscal stability, increasing transparency and improving social spending.

Under this new programme, the monetary policy will continue to be anchored by the exchange rate peg, which serves the economy well.

However, Jordan’s geographic location makes it highly vulnerable to political instability in the region. A large trade deficit and weak government finances also threaten Jordan’s economic prosperity.

Going forward, the Fund intends to strengthen the business support that it provides to entrepreneurs to ensure sustainability and growth amidst a challenging environment whilst maintaining employment levels, which is crucial for the communities in which they operate. Furthermore, the Fund will expand its reach into the smaller end of the SME spectrum to reduce concentration risk, increase the granularity of its investments and further deepen its impact.