ammonnews.net

Ammon News - AMMONNEWS - ­ The Jordanian central bank announced on Monday working out an agreement with the Ministry of Planning and the Arab Fund for Economic and Social Development to earmark Kuwaiti dinar 30 million worth of loan (some USD 100 million) for funding small and medium companies.

The central bank said in a statement the loan, offered by the Kuwait­based AFESD, would be re­lent to small
finance companies and banks which would in turn re­loan it to very small, small and medium­sized companies.
The World Bank had offered a loan worth USD 70 million and AFESD contributed with USD 50 million for funding
11,000 projects that secured more than 2,600 jobs.

AFESD, chaired by the eminent Kuwaiti business leader Abdulatif Al­Hamad, is a regional­Arab financial
institution that finances development, economic and social ventures and programs.

The Kuwait­headquartered fund contributed, between 1975 and 2015, to funding and executing many key
development ventures in Jordan; estimated at 46 ones, worth USD 1.9 billion. Grants given during the same
period were in the range of USD 56 million. The fund had also financed a number of programs, small and medium enterprises, valued at USD 80 million.