Algeria
Egypt
Israel
Jordan
Lebanon
Libya
Morocco
Palestine *
Syria *
TunisiaEuropean Bank for Reconstruction and Development boosts small businesses in Jordan
The European Bank for Reconstruction and Development (EBRD) is strengthening the resilience of the Jordanian economy by providing a loan of up to US$ 30 million to Cairo Amman Bank for on-lending to private businesses in the country. The loan comes under the EBRD coronavirus Solidarity Package, established to meet the immediate short-term financing needs of existing clients.
Addressing the economic impact of the pandemic, the funding will be on-lent in short-term loans to private small and medium-sized enterprises (SMEs) and firms facing liquidity strains due to a decrease in their activities, turnover and/or profitability.
The EBRD expects to dedicate the entirety of its activities to combating the economic impact of the crisis and stands ready to provide support worth €21 billion over the period 2020-21.
Since the start of its operations in Jordan in 2012, the EBRD has provided over €1.4 billion in 54 projects to the country’s economy. The Bank’s priority in Jordan is to support sustainable energy, finance private enterprises and promote infrastructure reform.
Read More
Countries covered:
-
Jordan
