USAID Business Growth Activity, Amam Ventures sign deal supporting SMEs, start-ups

AMMAN — The USAID Business Growth Activity signed an agreement with Amam Ventures to support the sustainability and growth of SMEs and start-ups in Jordan on Wednesday.

The agreement addresses the obstacles to financial access for SMEs and start-ups in Jordan, and is expected to contribute to USAID Business Growth Activity’s mission to drive SME and GDP growth, create employment opportunities and support women’s economic empowerment, according to an Amam Ventures statement made available to The Jordan Times. 

Jordan has one of the lowest female employment rates world-wide, and this agreement will play a vital role in enhancing the visibility of female entrepreneurs in Jordan and increasing their employment rates. 

“We appreciate the collaboration between USAID Business Growth Activity and the private sector to further USAID’s mission and support SMEs and Start-ups in Jordan to move towards a more prosperous and inclusive future,” said Daniel Swift, director of economic development and Energy Office, USAID Jordan. 

“We are also excited about USAID Business Growth Activity’s efforts to seek out woman-owned and led companies and empower them economically,” Swift added.

The USAID Business Growth Activity will support Amam Ventures in raising capital for a new SME-focused investment fund. 

The new fund is expected to have a long-term impact on the broader SME ecosystem in Jordan. As part of this agreement, Amam will provide access to finance to a larger number of female entrepreneurs, thus benefiting more women-owned and led businesses, read the statement. 

The project’s support to Amam Ventures will include improving pipeline building and deal execution, refining the investment strategy, assisting in the development of investor material to enhance investor engagement and to provide legal and fundraising support.

“USAID Business Growth Activity is committed to supporting SMEs and start-ups in Jordan through providing investment facilitation services to enhance growth, create jobs and empower women entrepreneurs. These goals are in alignment with Amam Ventures’ mission to promote women’s economic empowerment,” said Wafaa M. Aranki, chief of party at USAID Business Growth Activity.