World Bank $70 million loan for SMEs in Jordan

World Bank $70 million loan for SMEs in Jordan
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Published April 18th, 2013 - 13:21 GMT via SyndiGate.info

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The World Bank is to extend $70 million to Jordan for financing SMEs
The World Bank is to extend $70 million to Jordan for financing SMEs
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The World Bank is to offer a low interest, long-term $70 million loan to Jordan to help finance micro-projects and SME's.

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.

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