$13.5M DEVELOPMENT IMPACT BOND FOR REFUGEES EXCEEDS EXPECTATIONS
AMMAN, Jordan, Nov. 29, 2023 /PRNewswire/ -- The IKEA Foundation, Novo Nordisk Foundation, Norad, the U.S. International Development Finance Corporation (DFC), Ferd, and KOIS have received its first payment-linked evaluation results of the 'Refugee Impact Bond' (DIB) launched in Jordan in October 2021. The DIB funds a micro-enterprise creation program delivered by Near East Foundation (NEF) to help vulnerable Jordanians and Syrian refugees recover their livelihoods and build their resilience.
- The DIB funds a micro-enterprise creation program delivered by Near East Foundation (NEF) to help vulnerable Jordanians and Syrian refugees recover their livelihoods and build their resilience.
- In May and June 2023, the Refugee DIB's independent evaluator, Mathematica, surveyed a sample of grantees from the program's first cohort.
- The survey measured various outcomes related to grantees' businesses, as well as their employment status and income from employment.
- The payment metric was high across demographic subgroups, remaining above 98 percent for both genders, refugees and Jordanians, and youth and adults.