AMMONNEWS - The Central Bank of Jordan Sunday launched a set of economic initiatives in support of small and medium sized enterprises as well as Jordanian exports.
Central Bank Governor Ziad Fareez said the initiatives by the banking sector came to respond to the economic policies council's recommendations, launched by His Majesty the King and were endorsed by the cabinet.
One initiative aims to support Jordanian exports, through a JOD100-million Central Bank loan to the Jordan Loan Guarantee Corporation to help the company promote national exports, particularly in a number of new markets.
Another initiative; the JOD100-million entrepreneurship fund is a joint effort by the Central Bank and the ministry of planning and international cooperation that aims to support emerging ventures.
Noteworthy, 50 percent of the fund is a World Bank contribution. Also announced at the launch ceremony were two banking investment companies. Prime Minister Hani al-Mulki attended the launch ceremony at the Central Bank.
The set of initiatives seek to achieve a certain level of economic growth, create work opportunities and address the challenge of unemployment.