The European Investment Bank (EIB) is providing Jordan’s Housing Bank for Development and Finance (HBDF) with a €100mn ($1.21mn) line of credit to on-lend to the local private sector that have been severely affected by the economic consequences of the coronavirus (COVID-19) outbreak. The funding is intended to promote private sector development through the support of small and medium-sized enterprises (SMEs) as key players for generating economic growth and employment opportunities in the Jordanian economy.
EIB’s funding for HBDF will enable the Jordanian bank to expand its financing programme, offered at just 2%, to help SMEs counteract the negative repercussions of the COVID-19 pandemic. The financing programme offers excellent terms and competitive costs as a means of facilitating SME financing, helping them cover their operational costs and working capital in order to continue operations, pay employee salaries and meet their running costs.
Related Articles
Uzbekistan sticks with 14% policy rate
The Central Bank of Uzbekistan (CBU) on October 24 kept its key policy rate at 14% per annum, citing easing inflation but ongoing risks. The ... more
Iran's central bank authorised to settle IRR762 trillion IMF debt
Iran's Central Bank has been authorised to settle IRR762.305 trillion ($708mn) in debt arising from the Islamic Republic's commitments to the International Monetary Fund, First Vice President ... more
Russia’s central bank cuts key rate by 100bp to 17% in cautious move, defies calls for deeper easing
The board of the Central Bank of Russia (CBR) at the policy meeting of September 12 resolved to cut the key interest rate by 100 basis points from 18% to 17%, according to the regulator’s press ... more
Most Read
-
India’s smart metering push gains momentum
4 months ago
-
US expands oil sanctions on Russia
25 days ago
-
India’s smart metering push gains momentum
4 months ago