Agreement signed to support for micro-, small- and medium-sized businesses in Jordan

Agreement aims to improve the efficiency of loan guarantees through developing and implementing the digitalisation strategy

  
Young entrepreneurs work at the Amman-based Oasis 500, a seed investment firm which finances start-up firms in the region's information technology sector, November 2, 2011. Image for illustrative purposes.

Young entrepreneurs work at the Amman-based Oasis 500, a seed investment firm which finances start-up firms in the region's information technology sector, November 2, 2011. Image for illustrative purposes.

REUTERS/Muhammad Hamed
 

AMMAN — The Jordan Loan Guarantee Corporation (JLGC) on Saturday signed a cooperation agreement with “Support for micro-, small- and medium-sized businesses” programme, implemented by the German Agency for International Cooperation (GIZ) on behalf of the Federal Ministry for Economic Cooperation and Development.

According to a JLGC statement, cited by the Jordan News Agency, Petra, the agreement aims to improve the efficiency of loan guarantees through developing and implementing the digitalisation strategy to enable the corporation to increase the number of SMEs benefitting from JLGC programmes.

JLGC Chairman Maher Al Sheikh Hassan expressed pride in this partnership that seeks to enhance strategic cooperation between the two institutions through GIZ’s offering of technical support to the corporation, transferring the best practices and international experiments in the field and guaranteeing export credits.

JLGC General Manager Mohammed Al Jafari said that the corporation always seeks to develop its programmes and expand its services and scope of work through improving work procedures and the system of electronic connection with partners, including banks and finance institutions, as well as Jordanian exporters and traders.

For her part, Director of the GIZ’s Jordan and Lebanon Office Elisabeth Girrbach voiced happiness for the partnership with the corporation, noting that the deal aims to facilitate procedures for SMEs and micro-enterprises to receive loans and increase the efficiency of guaranteeing export credits.

Girrbach noted that this scheme is part of the agency’s efforts in Jordan to help endeavours to boost financial inclusion and enhance job opportunities.

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