Razzaz forms committee to launch SMEs financing programme

In implementation of Royal directives, Prime Minister Omar Razzaz on Saturday decided to form a steering committee to develop a comprehensive financing programme to support youth-led small- and medium-sized enterprises (SMEs) through local banks.

The committee, headed by Deputy Prime Minister and Minister of State Rajai Muasher, is tasked during the preparatory phase for launching the programmes with developing a regulatory framework for the partnership with banks participating in the funding programme, identifying target groups as well as the funding mechanism and eligibility criteria, the Jordan News Agency, Petra, reported.

The committee includes the Minister of Industry and Trade And Supply Tareq Hammouri, Youth and Culture Minister Mohammad Abu Rumman, Minister Planning and International Cooperation Mohamad Al-Ississ and Labour Minister Nidal Bataineh, as well as Central Bank of Jordan Governor Ziad Fariz and the directors of the Jordan Loan Guarantee Corporation and Association of Banks, along with CEO of the Business Development Centre.

The committee will conduct awareness campaigns to introduce the self-employment financing programme and encourage targeted groups to benefit from the initiative’s opportunities to reach productive and sustainable projects, according to Petra.

His Majesty King Abdullah, during a meeting with a group of young entrepreneurs last week, directed the government to develop a new comprehensive financing programme, along clear and transparent criteria, that includes funding, training and supporting youth to start small- and medium-sized projects, creating jobs and sources of income.