Transfer EJADA fund to JLGC

Transfer EJADA fund to JLGC

The European Commission signed a number of agreements with the Ministry of Planning and International Cooperation, the Central Bank of Jordan, and the Jordan Loan Guarantee Corporation, facilitating the transfer of the JD 5.1 Million Fund to JLGC, which will increase its guarantee providing power and therefore promoting its developmental role.

The fund was run by EJADA in cooperation with JLGC’s Industrial Finance Programme since 2001 to help provide the necessary guarantees needed by the banks to finance Jordanian SMEs.

Since then 117 loans were guaranteed through this fund with a total value of JD19 Million and a JD 12 Million Guaranteed amount which contributed to the success of the financial aspect of the EJADA Programme, and proved worthy of the ownership of the fund.