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Report Date : |
06.01.2014 |
IDENTIFICATION DETAILS
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Name : |
UNITED NATIONS RELIEF & WORKS AGENCY (UNRWA) |
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Formerly Known As : |
UNITED NATIONS RELIEF & WORKS AGENCY FOR PALESTINE REFUGEES IN THE
NEAR EAST |
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Registered Office : |
UNRWA Complex Bayader Wadi Aaseer, Um El Hiran PO Box 140157 & 484
Amman 11814 |
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Country : |
Jordan |
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Date of Incorporation : |
08.12.1949 |
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Legal Form : |
Not Available |
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Line of Business : |
UNRWA’s work exemplifies
an international commitment to the human development of Palestine refugees,
helping them: · acquire knowledge and skills · lead long and healthy lives · achieve decent standards of living · enjoy human rights to the fullest possible extent. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Jordan |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
JORDAN - ECONOMIC OVERVIEW
Jordan's economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources, underlying the government's heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of poverty, unemployment, inflation, and a large budget deficit. Since assuming the throne in 1999, King ABDALLAH has implemented significant economic reforms, such as opening the trade regime, privatizing state-owned companies, and eliminating some fuel subsidies, which in the last decade spurred economic growth by attracting foreign investment and creating some jobs. The global economic slowdown and regional turmoil, however, have depressed Jordan''s GDP growth, impacting export-oriented sectors, construction, and tourism. In 2011 and 2012, the government approved two economic relief packages and a budgetary supplement, meant to improve the living conditions for the middle and poor classes. Jordan''s finances have also been strained by a series of natural gas pipeline attacks in Egypt, causing Jordan to substitute more expensive diesel imports, primarily from Saudi Arabia, to generate electricity. Jordan is currently exploring nuclear power generation in addition to the exploitation of abundant oil shale reserves and renewable technologies to forestall energy shortfalls. In 2012, to correct budgetary and balance of payments imbalances, Jordan entered into a $2.1 billion, multiple year International Monetary Fund Stand-By Arrangement. Jordan''s financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. Jordan will continue to depend heavily on foreign assistance to finance the deficit in 2013
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Source
: CIA |
UNITED NATIONS
RELIEF & WORKS AGENCY (UNRWA)
UNITED NATIONS RELIEF & WORKS AGENCY FOR PALESTINE REFUGEES IN THE
NEAR EAST
Building : UNRWA
Complex
Area : Bayader Wadi
Aaseer, Um El Hiran
PO Box : 140157 &
484
Town : Amman 11814
Country : Jordan
Telephone : (962-6) 5808300
/ 4772226 / 4771741
Facsimile : (962-6)
5808318 / 4746361
Email : unrwa-pio@unrwa.org
Subject operates from a medium sized suite of offices that are owned and
located in the Central Business Area of Amman.
Branch Office (s)
Location Description
· Gamal Abdul Nasser
Street Office
premises
PO Box: 61
Gaza City
Palestine
Tel: (972-8)
2887333
Fax: (972-8)
2887555
Name Position
· Filippo Grandi UNRWA Commissioner General
· Margot Ellis UNRWA Deputy Commissioner General
UNRWA (the United Nations Relief and Works Agency for Palestine Refugees
in the Near East) provides assistance, protection and advocacy for some 4.8
million registered Palestine refugees in Jordan, Lebanon, Syria and the
occupied Palestinian territory, pending a solution to their plight.
UNRWA is funded almost entirely by voluntary contributions from UN member
states.
The Agency’s
services encompass education, health care, relief, camp infrastructure and
improvement, community support, microfinance and emergency response, including
in times of armed conflict.
Following the 1948
Arab-Israeli conflict, UNRWA was established by United Nations General Assembly
resolution 302 (IV) of 8 December 1949 to carry out direct relief and works
programmes for Palestine refugees. The Agency began operations on 1 May 1950.
In the absence of a solution
to the Palestine refugee problem, the General Assembly has repeatedly renewed
UNRWA's mandate, most recently extending it until 30 June 2011.
Since its
establishment, the Agency has delivered its services both in times of relative
calm in the Middle East, and in times of hostilities.
UNRWA’s work
exemplifies an international commitment to the human development of Palestine
refugees, helping them:
UNRWA is unique in terms of its long-standing commitment to one group of
refugees, and its contributions to the welfare and human development of four
generations of Palestine refugees. Originally envisaged as a temporary
organisation, the Agency has gradually adjusted its programmes to meet the
changing needs of the refugees.
UNRWA provides education, health, relief and social services to eligible
refugees among the 4.8 million registered Palestine refugees in its five fields
of operations:
More than 1.4 million refugees, around one third of the total, live in 58
recognised camps, and UNRWA's services are located in or near these areas.
Unlike other United Nations organisations that work through local authorities or executing agencies, UNRWA provides its services directly to Palestine refugees. It plans and carries out its own activities and projects, and builds and administers facilities such as schools and clinics.
The Agency currently operates or sponsors over 900 installations with nearly 30,000 staff across the five fields. Because UNRWA services such as education and healthcare are the type of services normally provided within the public sector, the Agency cooperates closely with governmental authorities in the area of operations, who also provide some services to Palestine refugees.
Almost all funding (98 per cent) received in 2009 came from voluntary contributions, and mostly from donor states, including the United States, the European Commission, the UK, Norway and Sweden. Of this, about 5.6 per cent came from non-governmental organisations, the private sector and individuals. The United Nations Secretariat finances over 100 international staff posts each year from its regular budget. UNESCO and WHO also fund on average 10 posts in the education and health programmes.
The USA was the largest donor in 2009 with a total contribution of around US$268 million, followed by the European Commission (US$232.7 million). These contributions made up 53 per cent of the total income UNRWA received for its regular budget. However, in terms of donations relative to population size and GDP per capita, the Scandinavian countries top the list.
The Agency is currently under-funded. It reached only 86 per cent of its funding target in 2009 for running its core programmes. Funding is generally not keeping pace with increased refugee needs and uptake of services. This has led to a worrying erosion in the quality of services.
UNRWA’s biennium regular budget for 2010 and 2011 is US$1.23 billion, although expenditure is likely to be less because of forecast shortfalls in donation income. As a result of the humanitarian crisis in the occupied Palestinian territory caused by the conflict and Israeli closures, UNRWA has launched repeated emergency appeals since 2000 for emergency food, employment and cash assistance. In 2009, UNRWA’s total budget for its core programmes, emergency activities and special projects was US$1.2 billion, for which the Agency received US$948 million.
In 2009, 52 per
cent of UNRWA’s regular budget was earmarked for education. The Agency also
allotted 19 per cent towards health services and 10 per cent towards relief and
social services.
UNRWA has its own Department of Internal
Oversight, charged with providing internal oversight through:
UNRWA’s Commissioner-General is advised by the Advisory Committee on
Internal Oversight which includes external members. The Agency is also audited
by the independent UN Board of Auditors, which publishes its reports to the
General Assembly. The Agency is bound by the principles of best practice of
oversight that apply to the United Nations system as a whole.
When UNRWA was
established as a temporary agency the United Nations and member states thought
it would be in the interest of both UNRWA and the refugees if the Agency was
able to collect voluntary contributions of any amount from member states.
However, the United Nations finances all UNRWA’s core international staff posts
from its regular budget.
Most Palestine refugees in Jordan, but not all, have full citizenship. There are ten recognized Palestine refugee camps throughout the country, which accommodate nearly 370,000 Palestine refugees, or 18 per cent of the country total. Jordan hosts the largest number of Palestine refugees of all of the UNWRA fields.
Nearly ten thousand Palestine refugees from Syria (PRS) have sought assistance from UNRWA in Jordan. The majority of them are believed to suffer from abject poverty and live in a precarious legal status. UNRWA is working to accommodate PRS children in its schools and to provide relief and health care to those in need
No complaints regarding subject’s payments have been reported.
During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.41 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.85.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.