Housing Bank Signs $75 Million Credit Facility Agreement with EBRD to Support MSMEs in Jordan
Summary
The agreement with the European Bank for Reconstruction and Development (EBRD) provides Housing Bank with a $75 million credit facility to support its lending to micro, small, and medium-sized enterprises (MSMEs) outside of Amman.This partnership aligns with the Central Bank of Jordans (CBJ) policies and initiatives aimed at promoting financial inclusion and improving access to finance.Housing Bank signed a $75 million credit financing agreement with the European Bank for Reconstruction and Development (EBRD) aimed at strengthening lending to micro, small, and medium-sized enterprises (MSMEs), particularly in underprivileged areas outside the capital, Amman. This agreement aims to address this obstacle by providing vital financial support to these businesses.Commenting on the agreement, Ammar Al-Safadi said, Through this financing, we aim to expand our ability to offer flexible and competitive solutions that support entrepreneurs across Jordan. This will help them grow their businesses, enhance innovation, and improve their competitiveness.Furthermore, Al-Safadi emphasized that this agreement is vital for Housing Bank, as it demonstrates a successful partnership between local and international financial institutions to foster a supportive business environment and stimulate investment. Additionally, the agreement will allow Housing Bank to expand its lending portfolio to MSMEs, enhancing its client base, improving the quality of its financing portfolio, and increasing liquidityall of which reinforce its position as a leading financial institution in supporting development.Mr Patrone, said: We are very pleased to have signed this facility, which further deepens our partnership with HBTF, a leading financial institution in Jordan. This third engagement reflects our shared commitment to supporting MSMEs and driving economic growth.
Funding
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