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.
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