US, Jordan Ahli Bank launch financing for clean technology businesses

By JT - Jul 17,2016 - Last updated at Jul 17,2016

AMMAN — Through its Jordan Competitiveness Project (JCP), USAID, has supported Jordan Ahli Bank in the development of a new loan product to finance clean technology businesses. The product, which offers affordable loans to firms working in the sector, was rolled out to companies’ representatives on Sunday, according to a USAID statement.

This cooperation also included the development of a standard application form for the product and analytical evaluation tools. Speaking at the product launch event, USAID Deputy Mission Director Lewis Tatem highlighted the development agency’s commitment to growing the clean technology sector, particularly for its ability to employ more Jordanians.

“We know that, given this sector’s dynamism and position as a regional leader, it has the potential to create thousands of new jobs,” he said. Citing a recent labour study, he added that “for example, the demand for renewable energy technicians grew by 25 per cent a year for four years running”.

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