EBRD partners with Cairo Amman Bank to bolster Jordan’s smaller firms

AMMAN — The European Bank for Reconstruction and Development (EBRD) announced Tuesday in a press statement that it is partnering with Cairo Amman Bank (CAB) to increase support for small businesses in Jordan by providing the equivalent of $20 million in Jordanian dinars for on-lending to micro, small and medium-sized enterprises (MSMEs). “Access to finance for MSMEs remains a challenge in Jordan, and this is particularly true for women-led businesses, new firms, small-scale enterprises and MSMEs located outside Amman,” the press release said. Heike Harmgart, head of the EBRD resident office in Jordan, said: “Signing this credit line with CAB is an important milestone for the EBRD in providing finance to small businesses in Jordan. CAB is committed and well-positioned to assist MSMEs, an important sector for the EBRD to develop as it contributes to economic growth and job creation.”