JLGC says it offers JD266 million in loan guarantees in 9 months

AMMAN — The Jordan Loan Guarantee Corporation (JLGC) has said it had provided JD266 million to enterprises and national exports over the first nine months of the year.

The corporation said that it has made made "solid results" by the end of the third quarter of this year, "driven by a growth loan and export credit and local sales guarantees, with total revenues soaring seven per cent to JD36.6 million during the first nine months of the year."

The company posted a 24 per cent growth in net profits of JD2.6 million the first nine months of the year, compared to JD2.1 million in the same period of 2023, the Jordan News Agency, Petra, reported. 

JLGC also said it has maintained a strong financial status with an equity of about JD44 million, while total assets were at about JD758 million by the end of September, 2024, according to Petra. 

"Third quarter results are in line with the company's strategy of managing guarantee programs and enhancing its role of supporting financial inclusion besides its key role of supporting small- and medium-sized enterprises, entrepreneurial projects and national exports, " Chairman of JLGC Board of Directors Adel Sharkas, said. 

JLGC Director General Adnan Naji said that the "company keeps up operational performance in line with its role of shoring up sustainable growth in the Kingdom, offering guarantees for about 1221 loans worth JD129 million dinars until the end of the third quarter."

Naji also said that around 1,326 enterprises have benefited from the Micro-Enterprise Guarantee Programme since its launch two years ago up until September 30, granting about JD10.4 million.