The United Arab Emirates signed a $100 million agreement with Jordan to boost small and medium-sized enterprises (SMEs) in Jordan.
The multimillion-dollar agreement was finalised during the official visit of Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan to Amman earlier this week, according to Arab News.
The cooperation and financing pact will support entrepreneurship in Jordan, funding around 22,000 projects over five years, as well as generate around 28,000 jobs for the Jordanian youth.
“The agreement reflects the depth of relation between the two countries. It aims to strengthen cooperation with regional and international institutions that support entrepreneurship and SMEs,” according to Hussain Jasim Al Nowais, chairman of the Abu Dhabi-based Khalifa Fund for Enterprise Development.
The Khalifa Fund will implement the developments, along with Jordan’s Crown Prince Foundation.
The agreement will also implement special initiatives for women, the youth, and other disadvantaged groups – with women-focused projects accounting for 47 per cent of the developments, and rural areas getting 40 per cent of the fund.
