Capital Bank signs $10m deal with EBRD to support SMEs

AMMAN — Capital Bank announced Sunday in a press statement that  it signed a partnership agreement with the European Bank for Reconstruction and Development (EBRD) to support and enhance the contribution of small- and medium-sized enterprises (SMEs) to economic growth and employment.

In the presence of Capital Bank Chairman Bassem Khalil Al Salem, the agreement was signed by General Manager Haytham Kamhiyah, and Heike Harmgart, head of the EBRD resident office in Jordan.

"Under the agreement, Capital Bank was granted a $10 million credit line to promote SME activities by providing a wide range of financing products in addition to developing new products to reach a vast array of companies in this sector," the press release said. Kamhiyah highlighted the vital role EBRD plays in aiding various economic sectors through agreements with banking institutions.

This is the second agreement between Capital Bank and the EBRD which aims to support various economic sectors. The first agreement was signed in April 2015 to promote international trade in Jordan.