You are here
European Investment Bank, Jordan Kuwait Bank join forces to support SMEs
By JT - Jul 04,2021 - Last updated at Jul 07,2021
AMMAN — The European Investment Bank (EIB) has decided to further support the Jordanian economy with a 100-million-euro ($119 million) line of credit to Jordan Kuwait Bank (JKB) to be on-lent primarily to local small and medium-sized enterprises (SMEs) that have been severely impacted by the economic consequences of the COVID-19 outbreak, according to a statement posted on the JKB website.
The operation is a part of Team Europe’s overall response to the Covid-19 crisis, which aims to support the region’s sustainable social and economic recovery, the statement said.
It also falls under the EU-EIB Economic Resilience Initiative (ERI), which amongst its primary objectives, intends to promote private sector development through the support to SMEs as key players for generating economic growth and employment opportunities in Jordan, according to the statement.
Related Articles
AMMAN — The European Investment Bank (EIB) is partnering with Housing Bank to support the Jordanian economy with a 100-million-euro line of
AMMAN — The European Investment Bank (EIB) and the Arab Bank on Wednesday signed a financing agreement worth 300 million euros to supp
AMMAN — The European Bank for Reconstruction and Development (EBRD) is strengthening the resilience of the Jordanian economy by providing a