Jordan: Germany Increases Its SME Support Budget to 10 Million Euros

Published December 15th, 2019 - 09:26 GMT
Jordan: Germany Increases Its SME Support Budget to 10 Million Euros
The Project aims to upgrade the business and investment climate, develop tools for companies. (Shutterstock)
Highlights
The program aims to implement sectoral strategies to enhance the capabilities of micro-, small- and medium-sized businesses

Jordan and the German Agency for International Cooperation (GIZ) on Saturday signed an amendment to extend their joint “Support for micro-, small- and medium-sized businesses” program to 2024 instead of 2022 and increase its budget from 7 million euros to 10 million euros. 

The agreement was signed by Minister of Industry, Trade and Supply Tareq Hammouri and Director of the GIZ’s Jordan and Lebanon Office Elisabeth Girrbach, the Jordan News Agency, Petra reported.

The program aims to implement sectoral strategies to enhance the capabilities of micro-, small- and medium-sized businesses in the sectors of food processing, information and communication technology, and tourism.

Towards this goal, the project works to improve the competitiveness of these institutions and enhance their capabilities. It also aims to upgrade the business and investment climate, develop tools for companies to access financial and non-financial services and facilitate dialogue between the public and private sectors.

A workshop on the program’s operational plan was opened in the presence of the ministry’s secretary-general, Yousef Shamali, who stressed the importance of the partnership with the GIZ.

Shamali said that the ministry “looks forward to developing the joint venture with the GIZ” in light of the agreement to extend the implementation of the program until April 2024, Petra reported.

He noted that supporting micro-, small- and medium-sized businesses is “a priority for the government” due to their contribution to enhancing the competitiveness of the national economy and their role in providing new jobs, highlighting the part they play in building a private sector capable of competition on the local and global levels. 

Girrbach underlined the “distinguished partnership” that brings the GIZ and the Ministry of Industry, Trade and Supply together in implementing a number of technical support programs geared towards promoting sustainable economic development. She stressed the importance of continuing partnership to achieve the development desired by the Jordanian government.  


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