Amman: The Jordan Loan Guarantee Corporation (JLGC) and the Cities and Villages Development Bank (CVDB) signed a memorandum of understanding (MoU) to strengthen cooperation in development financing and expand access to loan guarantee programs, supporting projects with economic, social, and environmental impact while advancing sustainable development efforts in the Kingdom.
According to Jordan News Agency, the MoU aims to strengthen cooperation in financing small and medium-sized enterprises (SMEs), expand the use of loan guarantee instruments, and explore the launch of joint financing and guarantee programs. It also provides for the exchange of expertise and the implementation of specialized training programs and workshops to improve access to financing for promising projects, enhance service efficiency, and support women-led enterprises, innovative ventures, and environmentally sustainable projects.
JLGC Director General Adnan Naji stated that the MoU reflects the corporation's commitment to expanding its strategic partnerships with national institutions to improve SMEs' access to the financing needed to implement their expansion plans. He emphasized that JLGC continues to develop its guarantee programs in line with the Kingdom's economic and development priorities, supporting entrepreneurship, stimulating investment, and creating job opportunities. Naji added that cooperation with the bank marks an important step toward strengthening financial inclusion and supporting projects with economic, social, and environmental impact in line with the Economic Modernization Vision and the Sustainable Development Goals.
Naji also mentioned that the partnership will maximize the benefits targeted projects receive from loan guarantee programs, contributing to economic growth, job creation, and sustainable development.
CVDB Director General Waseem Haddad remarked that the memorandum represents a strategic step toward strengthening national partnerships with development-focused financial institutions, helping expand development financing and deliver more effective financing solutions for priority projects. He reiterated the bank's commitment to supporting local development initiatives, municipalities, and productive enterprises through effective partnerships that stimulate investment and promote economic activity across the Kingdom's governorates. Haddad added that cooperation with the JLGC will provide an additional guarantee mechanism that enhances SMEs' ability to access financing while reducing the challenges they face in obtaining credit facilities.