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.
- Is Islamic finance the sustainable banking model the banking world has been looking for?
- Less is more? In ironic twist, UAE's low income earners found to be saving more
- Egypt has a secret Swiss bank, except everyone knows about it
- Why is Jordan's inflation so high? These reasons may surprise you....
- The Middle East's lack of savings: a ticking time bomb?