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Jordan signs 100 mln USD loan with Arab Fund

Xinhua, March 1, 2016 Adjust font size:

Jordan's Central Bank signed a 100 million U.S. dollars loan deal with the Arab Fund for Economic and Social Development (AFESD) on Monday, reported the state-run Petra news agency.

The loan will be distributed through several Jordanian banks to small and medium sized projects in order to support the Jordanian economy.

In 2015, the fund extended over 120 million dollars in loans to Jordan, benefitting over 11,000 projects in various fields and areas in the Kingdom, and creating over 2,500 jobs.

The central bank said the funding aims to support small projects in various economic sectors, adding that these ventures play an important role in supporting the Jordanian economy.

AFESD which is based in Kuwait, is an Arab regional monetary institution focused on funding economic and social development through financing public and private investment projects as well as providing grants and knowhow. Endit