liwwa has lent more than $7.8 million to Jordanian SMEs so far in 2018. As we grow, it's important to continuously assess our progress in terms of our mission statement:
To provide job and income growth in the markets we serve
We use an input-output model and economic multiplier method (described here) for assessing our economic impact. Below are the updated estimates of the impact of liwwa lending to SMEs on job, income, and output growth in Jordan.
We are proud to announce that our $15.5 million of lending to Jordanian SMEs has generated:
959 jobs supported in Jordan
$3.6 million of income for Jordanians
$25.6 million in output to the Jordanian economy
We are encouraged by this progress, but knowing that the unemployment rate in Jordan stood at 18.7% in Q2 2018, we are determined to make an impact on a much larger scale. Our employment impact has grown by a factor of 2.3 so far in 2018, and we expect that trend to continue into 2019 and beyond.