DEF reports 12% growth in project financing

AMMAN — The Development and Employment Fund (DEF) on Monday announced that it financed 1,599 projects across the Kingdom in 2024, marking a 12 per cent increase from 1,422 projects in 2023, DEF Director General Mansour Wreikat said on Sunday.

Wreikat said that the volume of finance for these projects totalled JD21.1 million in 2024, marking a 31 per cent increase compared to JD16.1 million in 2023, the Jordan News Agency, Petra, reported.  

The funded projects created 3,245 jobs in 2024, 29 per cent higher than the 2,524 jobs generated in the previous year. 

The percentage of female-led projects also grew, reaching 44 per cent in 2024 compared to 39 per cent in 2023.

The commercial sector accounted for 49.7 per cent of funded projects, followed by education 21.3 per cent, services 15.9 per cent, tourism 5 per cent, crafts 4.1 per cent and industry 4 per cent.

Wreikat highlighted an improvement in loan repayment rates, with total collections reaching 94 per cent in 2024, up from 93 per cent in 2023. 

The fund also conducted 142 awareness sessions nationwide, marking an 8 per cent increase from 131 sessions in the previous year.