They said the
The programme seeks to provide partial loan guarantees and technical assistance to mobilise bank financing for creditworthy but underserved SMEs.
"SMEs' contribution to the gross domestic product is more than 60 per cent and they only get less than 8 per cent of credit facilities given by banks," Haytham Kamhiyah, general manager of
In an address at the event, which attracted more than 250 representatives of SMEs, US Ambassador in Amman
He added that the JLGF has issued 69 loan guarantees to enable a wide variety of SMEs to obtain loans to finance their expansions.
"More than 500 skilled jobs are expected to be created and supported as these businesses launch and grow," he said.
Stressing his country's pride in the partnership with
Jones said the US will spend about
"One of the main problems the industrial sector faces is the lack of financing," he said, noting that about 15 per cent of credit facilities given by banks go to the industrial sector.
Of the 15 per cent, about two-thirds go to the largest 50 industries and companies, while the last third goes for SMEs.
"This is not enough and I am hopeful the programme will help in this regard... the government also needs to address the concerns of the sector and meet with its representatives," said Jaghbir.
Speaking at the event, Minister of Industry and Trade
"We are keen to support SMEs to enable them to penetrate new markets," said the minister.
(c)2014 the Jordan Times (Amman, Jordan)
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