In presence of Queen Rania Al Abdullah an agreement was signed Wednesday between the Jordanian government and the Arab Gulf Fund for Development (AGFUND) to establish the National Bank for Financing Micro Projects in Jordan with a capital of 10 million dollar.
According to Petra, the agreement was signed by AGFUND Chief the Executive Prince Talal Bin Abdul Aziz and Deputy Prime Minister/Minister of Trade and Industry
Mohammad Halaiqa signed it on behalf of Jordan.
The establishment of the bank comes in accordance with Jordan's bid to combat poverty and unemployment. The agreement is also part of Prince Talal's initiatives to establish banks for the poor in the Arab world.
The bank aims to support the infrastructure for investment in micro projects income generating projects that could improve quality of life of the limited income groups through providing loans with limited or low interest. (menareport.com)
© 2004 Mena Report (www.menareport.com)
