UAE, Jordan sign $100m agreement to support entrepreneurs

New agreement is aimed at financing micro, small and medium-sized enterprises in Jordan
UAE, Jordan sign $100m agreement to support entrepreneurs
King Abdullah II of Jordan attended the signing of the new agreement.
By Sam Bridge
Tue 20 Nov 2018 08:33 PM

The UAE and Jordan have signed a $100 million agreement aimed at financing micro, small and medium-sized enterprises (SMEs) in the kingdom.

Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and King Abdullah II of Jordan, on Tuesday attended the signing.

The agreement, signed at Al Husseiniya Palace by the Khalifa Fund for Enterprise Development and Jordan's Crown Prince Foundation, is aimed to support entrepreneurship and underpin the Jordanian government's efforts to ensure a stable and balanced economy, state news agency WAM reported.

It targets financing around 22,000 projects over five years and creating around 28,000 job opportunities for Jordanian youth.

Women-focused projects account for 47 percent of the developments, with rural areas getting 40 percent of the finance, WAM added.

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