JEDCO launches programme for linking beneficiaries with local investment funds

AMMAN — The Jordan Enterprise Development Corporation (JEDCO) on Sunday launched a programme for linking its beneficiaries of small- and medium-sized enterprises (SMEs) with a number of investment funds.

Minister of Industry, Trade and Supply and  JEDCO’s Chairman Tareq Hammouri, and representatives of the industrial and commercial sectors in addition to the directors of a number of local investment funds and consulting companies attended the launch ceremony, according to a statement from the corporartion.

Hammouri said that the programme aims at providing non-traditional financial and technical support tools and achieving strategic partnerships for economic projects by linking them with local investment funds to support the growth of the SMEs sector “that has an active presence and tangible impact in Jordan”.

The minister indicated that the available JEDCO’s data base of SMEs will be linked with a number of investment funds operating in Jordan, whether local or regional, to stimulate the investment process, according to the statement.

The programme will increase the SMEs awareness about non-traditional financing mechanisms, appropriate technical support means and attract investments to meet their funding needs, especially in the current economic situation resulting from the consequences of the corona pandemic, the statement said.

JEDCO CEO Bashar Al Zoubi said that JEDCO has initially prepared a comprehensive study of all its beneficiaries from its various programmes that serve services and industry sectors to determine their needs, and the possibility of providing financial and non-financial support.

These untraditional financial tools were designed based on the current market trends, read the statement. 

A list of eligible potential SMEs have been prepared according to specific criteria to be linked through consulting companies with some investment funds, and a plan has been set for the mechanism of work and coordination between JEDCO and these investment funds, the statement said.

The programme will link at least a hundred SMEs benefitting from JEDCO’s various programmes with investment funds and will work to provide a mechanism of work according to global standards to help local SMEs to be eligible to attract investments, concluded the statement.