More than 800 small- and medium-sized firms benefit from World Bank’s loan

AMMAN — More than 800 small- and medium-sized companies have benefited from the first payment of the World Bank’s loan, valued at $48 million and presented to banks through the Central Bank of Jordan (CBJ) at a competitive interest rate. In a statement, the CBJ indicated that 60 per cent of companies that have benefited from the loan were located outside Amman, of which 57 per cent are owned by women and 21 per cent by young Jordanians. The statement said the project has succeeded in supporting small and medium enterprises and reaching out to the targeted segments outside the capital, noting that the success of the initiative will be reflected on the economic growth by helping to reduce unemployment and poverty. The CBJ recently announced the referral of the second payment of the loan, totalling $13 million, to banks and signing of loan agreement with the Arab Fund for Economic and Social Development, under which $50 million will go to support small-and medium-sized companies during the upcoming few months.