USAID Business Growth Activity signs financial advisory agreements

[17-05-2022 03:46 PM]

Ammon News - The Business Growth Activity (BGA), a USAID-funded project, on Tuesday announced that it had signed financial advisory agreements with three Jordanian companies from the logistics, technology and healthcare sectors.

In a statement, the agency said the three companies will receive direct firm-level assistance through a series of evidence-based interventions to support expansion strategies. This aligns with USAID BGA’s goals of helping SMEs and stat-ups mobilize capital and increase investment into Jordanian enterprises.

"These agreements focus on bringing in investors to help the targeted companies raise capital. The capital would expand operations and increase employment, sales, and exports thus help in creating a sustainable business growth environment in Jordan," said Daniel Swift, Director of Economic Development and Energy Office, USAID Jordan.

USAID BGA has access to a global network of thousands of investment funds from which to search for suitable partners for Jordanian companies. USAID BGA will engage with startups and SMEs to articulate their growth stories and prepare documents needed for investor outreach and engagement. Investors will include local, regional and international equity and debt providers.

"The advisory agreement we signed includes a series of technical interventions by USAID BGA that will help my company prepare an investment memorandum with projected financials and valuations, identify potential investors, prepare for the due diligence process, and assist my company in negotiating an investment agreement. We believe this approach will favorably impact our business growth and increase our visibility," said the CEO of one company.

The USAID BGA aims to support Jordan's SMEs and start-ups improve their productivity and competitiveness, create jobs, foster innovation, promote economic growth and move Jordan towards a more prosperous, resilient, and inclusive future. USAID BGA will support SMEs with firm-level assistance, access to finance, and improve the country’s business environment through advocacy and public-private dialogue that complements USAID’s policy reform initiatives.

USAID BGA will systematically incorporate gender, youth and persons with disabilities in the project’s main goals, and core components. USAID BGA is a five-year project (2021-2026) and implemented by the prime contractor Financial Markets International and CrossBoundary as one of its subcontractors.

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