The Jordan Loan Guarantee Corporation (JLGC) was established as a public shareholding company in May 17, 1994 with a paid up capital of JD 7 million as a legal heir for “Loan Guarantee” project, which was founded by United States Agency for International Development in 1989, and was managed by the Industrial Development Bank until September 1993. The company’s aim was to provide the necessary guarantees to facilitate financing of SMEs owned by the private sector and working in all productive economic fields in Jordan.
In 1997, the capital was increased to 10 million JD in order to accompany the economic developments, and activate our role in the Jordanian economy. Moreover, Export Credit Insurance program has been added to encourage the Jordanian exporters to export their products by providing insurance to cover their commercial and non-commercial which their exports could be exposed to.
In 2016, the capital was increased to 29 million, to raise the applicable credit limits and develop new guarantee instruments for SMEs’ loans and Export Credit.
Jordan Loan Guarantee Corporation began with one simple program for SME’s guarantees. Now there are 2 major programs tailored to improve SME access to finance and provide more risk measured instruments to banks and exporters.
- Loan Guarantee.
- Export and Domestic Credit Guarantee.