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  • 05-07-21

    European bank backs Jordan's private sector with USD119m

    (MENAFN)State-run Petra news agency revealed that the European Investment Bank (EIB) stated on Sunday, July 4, that it offered 100 million euros (USD119 million) as a line of credit to sustain the private sector in Jordan against the effect of coronavirus.

    EIB added that the sum was provided to Jordan Kuwait Bank that will on-lend it to the country's small and medium-sized enterprises that have been harshly effected by the unparalleled crisis.

    Flavia Palanza, director of Neighbouring Countries Department of the EIB, revealed that it is one of the EIB's main priorities to back the resilience of the private sector by offering backing through collaboration with the Jordanian banking sector and the support of the European Union.

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