Prime Minister Dr.Abdullah Ensour inaugurated JLGC conference on" SMEs Financing and Loan Guarantees"

Prime Minister Dr.Abdullah Ensour inaugurated JLGC conference on" SMEs Financing and Loan Guarantees"

Under the patronage of H.E. Prime Minister Dr. Abdullah Ensour, Jordan Loan Guarantee Corporation (JLGC) in coordination with the Central Bank of Jordan organized its first regional conference marking the 20th anniversary of its establishment. "SMEs Financing and Loan Guarantees" conference that gathered many loan guarantee corporations in the MENA and worldwide.

Dr. Ensour urged that SMEs should always be a priority and not to lose its value at times of conflict, lack of security and economic difficulty. The prime minister told the participants that SMEs sector still gets a modest share of financing.

Prime Minister Abdullah Ensour prodded bankers, experts and financiers to give greater attention to small- and medium-sized enterprises (SMEs). 

During the opening ceremony, Ensour emphasized on the importance of the conference, which is synchronized with the government's work on preparing a 10-year economic plan expected to be ready before the end of the year, especially that the government is aware of the value of these projects.  He added that this vision focuses on employment and providing productive jobs through training, rehabilitation and empowerment as a base to contain unemployment and poverty alleviation. 

The premier said the government is interested in providing different local and international finance sources for these projects on easy terms through a comprehensive framework to support these projects as part of its economic programmes and plans that enable entrepreneurs to expand and enhance their competitiveness.

He indicated that a higher committee headed by the minister of planning and international cooperation and the membership of relevant ministers and institution directors, was formed to support these projects according to JLGC statements. The committee mission is making a strategy that streamline efforts, facilitates procedures and supports participants in the sector. In addition to considering the incentive structure presented to this vital sector. 

H.E. Dr. Ensour also stressed on the government’s commitment in supporting SMEs sector for its economic and social role in light of current circumstances in the Kingdom. 

The prime minister assured that the challenge in this context is to coordinate all efforts to execute supporting programmes and develop small- and medium-sized projects in joint efforts between the public and private sectors.

 The opening ceremony was also attended by the Central Bank of Jordan (CBJ) Governor H.E. Dr.Ziad Fariz, H.E. the Minister of Finance Dr. Umayya Toukan, Mr. Nemeh Sabbagh, CEO Arab Bank/Jordan - the official sponsor of the conference works. In addition to a number of high profile representatives from various Arab countries and local entities.

The two-day conference hosted international experts to intensify knowledge exchange on loan guarantee industry in the Middle East and North Africa region (MENA).