Ammon News - The Ministry of Planning provided funding for about 557 micro, small and medium-sized enterprises (MSMEs) in 2020, under the ministry's Economic and Social Productivity Enhancement Program.

In response to inquiries by the Jordan News Agency (Petra) on Sunday, the ministry said the businesses included local community bodies of charitable and cooperative societies as well as voluntary and women's organizations.

"The project also financed entrepreneurial projects through the Development and Employment Fund’s funding window, and ventures of military retirees through zero-interest soft loans, along with providing technical and advisory support services for 800 projects under the nation-wide program, ERADA" it added.

The ministry stated that the volume of funding for the Productivity Enhancement Program (PEP) amounted to about JD6.2 million in 2020, implementing an integrated package of activities and initiatives to attain developmental impact nationwide and provide employment opportunities.

As for supporting the MSMEs affected by the COVID pandemic, the ministry said it had previously signed a $10 million loan agreement with the Islamic Development Bank, with no profit margin, in addition to a non-refundable grant of $130,000 to contribute in financing these businesses.

(Petra)