JEDCO launches funding programmes for industrial SMEs to support economy

AMMAN — Amid the economic contraction brought on by the coronavirus pandemic, the Jordan Enterprise Development Corporation (JEDCO) on Friday launched two programmes aimed at providing support to small- and medium-sized industrial enterprises with a total of JD680,000 in funding from the Jordanian government.

Minister of Industry, Trade and Supply Tareq Hammouri, who is also chairman of JEDCO’s board, highlighted the importance of shortening the Kingdom’s path to economic recovery, noting that this package provides rapid support to industrial SMEs to alleviate the economic repercussions of the coronavirus pandemic, the Jordan News Agency, Petra, reported.

The first programme will provide two services: Supporting local industrial SMEs in e-marketing and online sales; and automating some of their activities to ease remote transactions, JEDCO’s CEO Bashar Zoubi said.

It aims to ease the registration of local products in electronic marketplaces, which expands the customer base. It also works to promote the online selling of Jordanian products locally and internationally, Petra reported.

The first programme, which started receiving applications on Friday, provides financial grants of up to JD7,000, awarded on a competitive basis, to 40 industrial projects across the Kingdom. The programme’s budget totals JD280,000. 

The second programme targets SMEs whose work is related to manufacturing medical supplies and public safety gear for export purposes, as well as companies that are able to modify their production lines and acquire the equipment needed to manufacture these products, Zoubi said, stressing that priority will be given to export-ready companies.

The second programme has a budget of up to JD400,000, which will be allocated to 10 companies to finance up to 70 per cent of each project, he added.