The Jordan Loan Guarantee Corporation (JLGC) and the Cities and Villages Development Bank signed a Memorandum of Understanding (MoU) to strengthen their cooperation in supporting development finance and expanding the utilization of loan guarantee programs, contributing to the financing of projects with economic, social, and environmental impact while advancing sustainable development efforts in the Kingdom.
The MoU aims to enhance cooperation in financing small and medium-sized enterprises (SMEs), expand the use of loan guarantee instruments, and explore the development of joint financing and guarantee programs. It also provides for the exchange of expertise and the implementation of specialized training programs and workshops to improve SMEs' access to finance and enhance the quality of services provided to them. In addition, the partnership will support women’s economic empowerment, innovation-driven initiatives, and environmentally sustainable projects.
Mr. Adnan Naji, Director General of JLGC, stated that the MoU reflects the Corporation’s commitment to expanding its strategic partnerships with key national institutions in order to improve SMEs’ access to the financing needed to implement their growth and expansion plans.
He added that JLGC continues to develop its guarantee programs in line with Jordan’s economic and development priorities, supporting entrepreneurship, stimulating investment, and contributing to job creation. He emphasized that cooperation with the Bank represents an important step toward strengthening financial inclusion and empowering projects with economic, social, and environmental impact, in line with the Economic Modernization Vision and the Sustainable Development Goals.
Dr. Naji further noted that the partnership will enhance the targeted projects’ access to JLGC’s loan guarantee programs, generating positive impacts on economic growth, employment, and sustainable development.
For his part, Dr. Wasim Al-Haddad, Director General of the Cities and Villages Development Bank, described the MoU as a strategic step toward strengthening national partnerships with development-focused financial institutions, helping to expand development finance and provide more efficient financing solutions for priority projects.
He added that the Bank continues to implement its vision of supporting local development, municipalities, and productive enterprises through effective partnerships that stimulate investment and promote economic activity across all governorates of the Kingdom.
Dr. Al-Haddad also emphasized that cooperation with JLGC will provide an additional guarantee mechanism that enhances the ability of SMEs to access financing and helps address the challenges they face in obtaining credit facilities.
