Small and Medium Size Private Sector Projects and Enterprises in Jordan
A loan agreement for KD 30 million was signed in Kuwait on the 7th of April 2015 between the Government of the Hashemite Kingdom of Jordan and the Arab Fund for Economic and Social Development to help finance ďThe Program for Supporting Small and Medium Size Private Sector Projects and Enterprises in the Hashemite Kingdom of JordanĒ.
The loan agreement was signed by H.E. Mr. Imad Najeeb Fakhori, Minister of Planning and International Cooperation, on behalf of the Government of the Hashemite Kingdom of Jordan, and by H.E. Mr. Abdlatif Yousef Al-Hamad, Director General/ Chairman of the Board of Directors, on behalf of the Arab Fund.
The program aims at increasing economic growth rates, creating new jobs opportunities and supporting leading initiatives. This will be accomplished by providing funding for small and medium size private sector projects and enterprises in the Hashemite Kingdom of Jordan.
The loan will carry interest at 3% per annum, and will be repayable over 22 years including a 5-year grace period.
The Central Bank of Jordan will be the beneficiary of the loan, and will be responsible for supervising and implementing the project.
With the signing of this loan, the Arab Fundís total contribution to financing projects in the Hashemite Kingdom of Jordan now amounts to KD 563.150 million.