Government signs executive agreements for industrial support program

01-10-2022 01:32 PM

Ammon News - Ministry of Industry Trade and Supply signed yesterday the first sub- agreement for the executive bodies of the programs of the Industry Support and Development Fund , which include Jordan Corporation for Development of Economic Projects for the purposes of implementing the Industry Support and Development Program and with the Export House Company for the purposes of implementing the Export Promotion Program and the Jordan Loan Guarantee Corporation for the purposes of implementing a credit guarantee program exports.
Under these agreements, signed by the Minister of Industry, Trade and Supply / Chairman of the Steering Committee of the Fund, Youssef Shamali, financial and technical support will be provided to about 195 small and medium enterprises during the life of the project in order to develop and modernize the products manufactured for those facilities.
As for the program specialized in supporting the export credit guarantee, it targets approximately 45 industrial establishments, with a financial support ceiling of up to 35,000 dinars annually for the facility.

The signing of these agreements comes within the framework of the ongoing work by the government to implement programs to support and develop the industry, which will have a significant impact on increasing production and enhancing the competitiveness of the industrial sector's exports to create job opportunities and reduce unemployment rates, Shamali said.

He added that the establishment of the Industry Support and Development Fund came in implementation of the government's economic work priorities program for the years (2021-2023) with the aim of developing the industrial sector and increasing its competitiveness locally and abroad by providing financial support in the form of grants.
He explained that the operating manual for the fund's programs has been approved, which represents one of the pillars that will be adopted to implement the fund's programs to facilitate the availability of information for establishments wishing to obtain support, which contains the procedures, foundations and criteria approved for the purposes of selection and performance indicators required to provide grants to enterprises benefiting from the fund's programs.
Regarding the date of the official launch of the fund's programs, Shamali explained that the start of receiving applications will soon be announced, which is expected to be during this month.
The mechanism for receiving applications from industrial companies wishing to benefit from these programs will also be clarified, as preparations are currently being made by the Ministry for a unified electronic platform to receive applications for all programs of the executive authorities.

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