The European Bank for Reconstruction and Development (EBRD) and the European Union are providing a financial package of up to US$ 5 million to Jordan’s telecommunications provider Al-Hadatha Telecom and Technology PSC (DAMAMAX) to support the expansion of the company’s fibre-to-the-premises (FTTx) services.
A loan of up to US$ 4.5 million by the EBRD provided in local currency and in US dollars will be complemented by an up to US$ 487,500 investment grant by the EU and used to finance investments in the expansion of fibre optic networks to underserved areas of the capital, Amman. The availability of affordable high-speed broadband will benefit local small and medium-sized enterprises (SMEs) as well as households.
Enterprises are expected to improve their productivity thanks to state-of-the-art internet access. The investment grant is provided under the Bank’s EU-supported Trade and Competitiveness Programme supporting SMEs in Jordan, Egypt, Morocco and Tunisia to invest in new technologies.
In Jordan the EBRD has been active since 2012 and to date has invested almost €1.5 billion across 52 projects, of which 73 per cent are in the private sector.