PM calls for further support to SMEs, development projects in governorates

AMMAN — Prime Minister Abdullah Ensour on Saturday highlighted the contributions of small- and medium-sized enterprises (SMEs) to reducing poverty and unemployment, especially in governorates and remote areas.

In line with Royal directives to the government to distribute development gains evenly, create new job opportunities, achieve sustainable development and upgrade the living conditions of citizens, Ensour said that supporting SMEs in the governorates and underprivileged areas is a top government priority.

Speaking at two consecutive meetings at the Prime Ministry of the higher committee to fund SMEs and the board of the Governorates Development Fund, the premier called for more efforts to regulate the SME sector, stressing the importance of securing finance for such projects at low interest rates.

Planning Minister Ibrahim Saif, who heads the SMEs higher committee, said the panel, formed by the Cabinet a few months ago, is working on securing funds for such projects from internal and external parties.

Jordan Enterprise Development Corporation CEO Yarub Qudah said 97 per cent of projects in Jordan are in SMEs, and the inability to provide the required guarantees is a major hindrance that entrepreneurs face when seeking loans.

At the Governorates Development Fund board meeting, Ensour stressed the importance of achieving more progress in implementing the projects financed by the fund, calling for guiding citizens on the kind of ventures that can be financed.

The premier also called for speeding up the process of disbursing the funds to citizens and spending on the selected projects so that residents of the governorates can feel the result on their quality of life.

“There is poverty and unemployment, and here is money allocated to address these issues that needs to be quickly disbursed,” Ensour said.

The JD150-million fund was launched in 2011 under a Royal initiative with the aim of creating job opportunities and achieving sustainable development in governorates and remote areas outside the capital.