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TunisiaJordan: JOD 24 million EIB backing for business investment
Access to finance by entrepreneurs and businesses across Jordan will be enhanced by new cooperation between the European Investment Bank and Jordan Commercial Bank.
The European Investment Bank will provide EUR 30 million (JOD 24 million) to Jordan Commercial Bank for on-lending to local companies. The new credit line will back business financing to help Jordanian companies to invest and create jobs and to enhance economic resilience to the COVID-19 by companies most impacted by the pandemic.
The latest European Investment Bank support for private sector investment in Jordan was announced in Amman earlier today at “Jordan SME Finance 2022”, a conference hosted jointly by the Central Bank of Jordan and the European Investment Bank.
The EIB financing comes under the Economic Resilience Initiative (ERI), which is part of the European Union’s response to the challenges in the Southern Neighbourhood, such as forced displacement and migration, economic downturns and political crises. Under this initiative, the EIB has been making available EUR 750 million financing to seven Jordanian financial intermediaries.
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