A loan guarantee agreement was signed between the Jordan Loan Guarantee Corporation and the Housing Bank, to guarantee the risks of the loans granted by the Housing Bank under the new “Business Financing Programme”.
The agreement was signed by Dr. Mohamed al-Jafari, the Director General of the Jordan Loan Guarantee Corporation, & Mr. Omar Malhas Director General of the Housing Bank.
The signing of this agreement highlights the importance of developing financing opportunities for small and medium sized enterprises which spread throughout the kingdom and constitute the bulk of the economic community by nearly 95% of overall economic projects, and can reach approximately 98% outside the capital, Amman.
The experience of the Jordan Loan Guarantee Corporation with the Housing Bank reflects the integrated objectives of both parties, and company statistics show the expansion of the bank's services to include productive and income-generating economic projects, which have difficulty in providing traditional collaterals where the bank was able to provide it’s services to this group under the umbrella of the loan guarantee scheme.
