Gulf Countries

Jordan launches 98 mln USD investment fund

Jordan launches 98 mln USD investment fund

AMMAN (Rahnuma): Jordan on Sunday launched an investment fund worth 98 million U.S. dollars to support startups.

Prime Minister Omar Razzaz said the fund, which is co-financed by the Central Bank of Jordan and the World Bank, seeks to improve the business climate in Jordan.

“Focusing on supporting entrepreneurs will help realize development in Jordan and create jobs,” said the prime minister during an event to launch the fund.

He added that out of the most important 100 companies in the Arab world, 21 are Jordanian companies.

The fund, he said, will help provide necessary funding for the projects and make available necessary credit.

He added that it will help create jobs for Jordanians in light of unemployment in the country.

Central Bank Governor Ziad Fariz said the fund will help enhance financial inclusion in the kingdom.

He added that the central bank will continue to extend such support to small and medium sized projects.

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