JEDCO secures JD23m for 2022-2024 economic development initiatives

AMMAN — The Jordanian Enterprise Development Corporation (JEDCO) has secured a total of JD23 million in funding for its economic development programmes between 2022 and 2024. 

This funding has been provided by a range of local, regional and international partners, the Jordan News Agency, Petra, reported on Sunday.

According to the Strategic Plan Results Report for the 2022-2025 period, a total of 6,200 beneficiaries have received support through eight different programmes over the past three years, including 2,305 direct beneficiaries and 3,895 indirect beneficiaries.

The JEDCO has delivered its programmes through partnership agreements, funding initiatives, and memoranda of understanding with a number of key organisations.

These institutions include the International Islamic Trade Finance Corporation of the Islamic Development Bank Group, Global Affairs Canada, Canadian Trade Facilitation Office, TTi Organisation, Arab International Centre for Entrepreneurship, International Fund for Agricultural Development, United Nations Development Programme, German Savings Banks Association and United Nations Industrial Development Organisation.

They also include the ministries of agriculture, investment, industry, trade and supply and planning, chambers of commerce and industry, the National Agricultural Research Centre, Jordan Standards and Metrology Organisation, Jordan Exporters and Producers Association for Fruit and Vegetables, Jordan River Foundation, Central Bank of Jordan, and several universities.

The "Start Your Project" programme, which targets individuals and startups with a maximum age of three years, aimed at supporting small and micro projects across various governorates and generating 200 permanent job opportunities, contributed JD4.161 million, benefiting 228 recipients, marking an increase from the initial target of 130.

The "Develop" programme, designed to support existing small, medium, and micro enterprises in all governorates and improve their marketing, export capacities, and obtain international quality certifications to enhance the competitiveness of national products, supported 104 recipients, exceeding its target of 60, with a total of JD1.369 million.

The "Your export is at our expense" programme, aimed at offering financial support covering 50 per cent of the cost of shipping industrial and agricultural products by sea and air to international markets, supported 143 recipients, surpassing the target of 140, with a value of JD500,000.

The "Industrial Modernisation" programme, part of the Industrial Support Fund, supported 131 beneficiaries, reaching JD12 million, in line with Jordan's economic modernisation vision to boost industrial output and expand export bases to global markets.

The "Quality of Life at Home" programme, focused on improving living standards and supporting remote work and technology in rural areas, supported 18 beneficiaries, reaching a total funding of JD84,000.

The "Rural Economic Development and Employment" programme provided technical and financial support to 1,724 beneficiaries, an increase from 330 targeted, benefiting small farmers, rural women and youth with a total value of JD4.223 million.

The "Empowerment" programme supported four beneficiaries with a total of JD180,000, aiming to enable small and medium-sized enterprises to improve classification and reduce costs across various industrial, service, agricultural, tourism and creative sectors.

The "Consultation" programme of the National Export Strategy, supported 50 beneficiaries, focusing on enhancing the export competitiveness of consultancy services for women-owned and/or women-managed businesses, providing JD500,000 in funding over three stages.

Recently, the board of directors of JEDCO, chaired by Minister of Industry, Trade and Supply Yarub Qudah, approved a new strategic plan for 2025-2027. 

The plan aims to position JEDCO as a leader in supporting small, medium, and micro enterprises, fostering development for sustainable growth.