World Bank $70 million loan for SMEs in Jordan
Jordan Times reports the deal was signed 16 April by Minister of Planning and International Cooperation Jafar Hassan and Ferid Belhaj, the World Bank's country director for Lebanon, Syria, Jordan, Iran and Iraq.
The Amman-based daily said the 30-year loan has a five year grace period with an interest rate of 1.45 per cent. The funds will be administered by the Central Bank of Jordan and distributed via the country’s commercial banks.
- Why is the Israeli shekel so weak?
- What doesn't kill you, makes your stronger: why the Arab Bank is likely to emerge from the Israeli lawsuit 'unscathed with flying colors'
- Too foreign? An inside look into the struggles of foreign banks in Saudi Arabia
- A clash of civilizations: are foreigners newly entering the Saudi stock market about to face a culture shock?
- From tweets to public outrage: understanding Turkey's bitterness towards credit rating agencies