IBC Chairman & Board Members Attend the Reception Given by the Dutch Ambassador
IBC Chairman Dr. Majid Saedi and a number of IBC Board members; IBC Vice Chairman and Secretary General Mr. Saad Naji, Vice Chairman Mr. Turkey Al-Qaisi, Mr. Usama Al-Quraishi, Mr. Muhammad Al-Sarraf, Mr. Fakhri Reshan, IBC member Mr. Faris Kamal and IBC CEO accepted on Sunday September 25th 2016 the invitation extended by the Netherlands Ambassador to Jordan Mr. Paul Van Den Issel to attend the reception for launching the program of supporting and financing the small and medium businesses in Jordan at the Ambassador’s residence.
During the ceremony, the Dutch Ambassador announced that the Government of the Kingdom of the Netherlands has provided a (3) million Dollars soft loan to the Jordan Growth Fund managed by GroFin Jordan.
This soft loan, presented by the Netherlands Fund for Good Growth in collaboration with GroFin specialized in supporting and funding small and medium businesses, aims at supporting persons who intend to start their own projects in order to deal with the difficult funding conditions and manage their businesses.
The Dutch Ambassador also said that the significance of this project comes from the fact that it allows young leaders to enter the field of small and medium investments with new ideas that meet the market requirements.
Mr. Issel further clarified that this step comes within the framework of supporting Jordan’s internal stability and assisting it to confront the difficult circumstances resulting from the regional challenges and their implications.
The soft loan will also contribute to supporting the economic growth in Jordan by generating new and innovation concepts of business solutions for small and medium enterprises that encounter difficulties in funding and securing bank loans, whereas GroFin Jordan, which is a branch of the leading global GroFin specialized in funding small and medium businesses over 12 years, will assist investors to bring together capital and support emerging companies in order to generate new job opportunities, thus contributing to the creation of inclusive growth and improve the living conditions in the country.
The project is expected to start with pioneering ideas for companies from various sectors (such as agriculture, health, education, energy and services) as owners of these ideas require capital to start their businesses, yet they are unable to secure guarantees to present to the banks in order to obtain the required funding loans.
It is anticipated to fund over 70 small and medium businesses during the next five years which would contribute to the generation 3000 new job opportunities in the country.
GroFin Jordan Director General Mrs. Alfanaz Murad stated that: “70% of small and medium businesses fail during the first three years of starting their operations, but through our support to this vital sector we would increase the opportunities of small and medium businesses in Jordan to achieve success, growth, expansion and continuity.”
The ceremony was attended by a large crowd of the diplomatic and economic dignitaries, in addition to a large number of journalists.
