EBRD celebrates four years of support to small businesses in Jordan

By Nibal Zgheib

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EBRD celebrates four years of support to small businesses in Jordan

ASB programme has provided support and advice to 191 SMEs in the country.

The EBRD is celebrating four years of support for small businesses in Jordan under the Bank’s Advice for Small Business programme funded by the European Union (EU).

Since the beginning of the Bank’s activities in Jordan the ASB programme has provided support and advice to 191 businesses, contributing to an average 12 per cent increase in employment among these firms. Support for small and medium-sized enterprises (SMEs) is one of the main pillars of the Bank’s strategy in Jordan. Under this programme the EBRD aims to strengthen the economic resilience of the country and to create new job opportunities among young people and women.

To mark the programme’s achievements, the EBRD hosted an event in the capital, Amman, which was attended by Yarub Qudah, Jordan’s Minister of Industry, Trade and Supply, by Andrea Matteo Fontana, the EU Ambassador in Jordan and by many business representatives.

Charlotte Ruhe, Director in the EBRD’s SME Finance and Development group, said: “We are proud to have been in Jordan since the beginning of the Bank’s activities, supporting SMEs and helping them to grow and succeed. Our programme has supported thousands of businesses across the countries where we invest, by providing expertise, knowledge and funding to ensure their sustainability and competitiveness.”

Khaled Al Saheb, the Manager of EBRD Advice for Small Businesses in Jordan, indicated that “SMEs are the backbone of any economy and in Jordan they are vital as they represent over 97 per cent of companies in the country. At the EBRD we mobilise advice and finance to boost these small businesses and help them become an integral part of the economy”.

Andrea Matteo Fontana, EU Ambassador in Jordan, Said "The EU and the EBRD have a long standing history of co-operation in supporting the SMEs. This co-operation has enjoyed a successful track record in achieving growth and employment in local and regional communities.  Today we will have the opportunity to listen directly from the entrepreneurs their story of their successful cooperation with the EU and EBRD".  

The EBRD’s Advice for Small Business programme offers diversified market advice through working with local and international consultants who have expertise in the field of organisational development and business growth, as well as track records in increasing sales, employment and productivity.

Jordan became an EBRD shareholder in 2012. To date, the Bank has committed close to US$ 1 billion across 35 projects in various sectors of the economy, including trade finance to local banks.

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