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JORDAN,UNITED STATES : Jordan signs $300 million deal with USA
Publish Date : 28-Oct-2011
Jordan has entered into a Memorandum of Understanding (MoU) worth $300 million with the United States of America for the Lending Program to Jordanian Small and Medium Enterprises (SMEs). The deal signed on the sidelines of the World Economic Forum (WEF).
According to the agreement, the U.S side will offer loans to Jordanian SMEs for a period of 10 years with a low interest rate that does not exceed 5%.
“The agreement includes loan guarantees worth $250 million for the governorates’ SMEs, in addition to $50 million grant from the U.S. Agency for International Development (USAID).,” said Saleh Kharabsheh, Secretary General of the Ministry of Planning and International Cooperation.
“The deal will contribute to launching new small and medium sized projects by stimulating greater access to credit and boost its growth and development,” said Elizabeth L. Littlefield, President of the Overseas Private Investment Corporation (OPIC).
“The MoU reflects the strong U.S-Jordanian ties, noting that creating access to credit for SMEs will increase incomes, create job opportunities and stimulate economic growth,” said Stuart E. Jones, U.S Ambassador to Jordan.
