EBRD gives $10m credit to Jordan Ahli Bank for loans to SMEs

AMMAN — The European Bank for Reconstruction and Development (EBRD) on Monday announced a $ 10 million credit line to Jordan Ahli Bank for “on-lending” to micro, small-and medium-sized enterprises (SMEs), according to an EBRD statement.

The EBRD’s funding will increase available finance to Jordanian small enterprises, which are currently under-served by the local banking sector, the statement continued, adding that the bank will also extend $1million for technical assistance to reinforce Jordan Ahli Bank’s efforts to enhance SME lending, specifically for women, and facilitate the transfer of international best practice, knowledge and skills.

“The SMEs sector is a priority for the EBRD, as it is the backbone of the economy and generates employment opportunities for all segments of the population,” Heike Harmgart, EBRD head of office in Jordan, was quoted in the statement as saying.