EIB extends €57mln to support businesses in Jordan

Home Business EIB extends €57mln to support businesses in Jordan 31-03-2022 02:08 AM Ammon News - The European Investment Bank (EIB) Wednesday announced it is financing new businesses in Jordan with a total of €57 million. It added that it allocated an additional €30 million to the private sector supporting small- and medium-sized enterprises in 2022. During a conference to uncover the findings of a study on the Jordanian banking sector, the EIB indicated that despite the impact of the COVID-19 pandemic on the Jordanian economy, the banking sector remained strong. It explained that ensuring access to business finance is critical to economic growth and job creation. The EU Ambassador in Jordan, Maria Hadjitheodosiou, indicated that the conference provided banks, business leaders, policymakers and international partners the opportunity to exchange visions on best practices in financing small- and medium-sized enterprises. It is an opportunity to learn from recent policy responses to cushion the blow of the COVID-19 pandemic economic fallout. The study showed that solid policy intervention, including liquidity support, loan rescheduling and additional guarantees for small- and medium-sized enterprises, enabled credit growth and the profitability of the banking sector. It proved that the economic and commercial impact of the COVID-19 pandemic was less severe than that in other Middle Eastern countries.

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EIB extends €57mln to support businesses in Jordan

31-03-2022 02:08 AM

Ammon News -
The European Investment Bank (EIB) Wednesday announced it is financing new businesses in Jordan with a total of €57 million.
It added that it allocated an additional €30 million to the private sector supporting small- and medium-sized enterprises in 2022.
During a conference to uncover the findings of a study on the Jordanian banking sector, the EIB indicated that despite the impact of the COVID-19 pandemic on the Jordanian economy, the banking sector remained strong.
It explained that ensuring access to business finance is critical to economic growth and job creation.

The EU Ambassador in Jordan, Maria Hadjitheodosiou, indicated that the conference provided banks, business leaders, policymakers and international partners the opportunity to exchange visions on best practices in financing small- and medium-sized enterprises. It is an opportunity to learn from recent policy responses to cushion the blow of the COVID-19 pandemic economic fallout.
The study showed that solid policy intervention, including liquidity support, loan rescheduling and additional guarantees for small- and medium-sized enterprises, enabled credit growth and the profitability of the banking sector.
It proved that the economic and commercial impact of the COVID-19 pandemic was less severe than that in other Middle Eastern countries.

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