The banking system in Jordan is one of the biggest barriers to SMEs as it remains incredibly risk averse, making it difficult for start-ups to gain the much needed starting capital, even if JEDCO are able to offer a minority stake out of their $300 million 2012-2016 budget.
Other delegates explained that whilst supportive of JEDCOs aims, the reality for a business in Jordan, especially outside the more affluent areas of Amman, is to confront a local economy affected by the pressures of global and regional financial climates.
successful launch of this fund is the result of over two years of close cooperation between EIB and the JEDCO
and it sends a significant message to the market
, EIB and Abraaj Capital will serve as anchor investors in the fund.
The former was cosponsored with the LSU-SBDC, the latter with JEDCO.
Presentations were made by FEMA, the SBA, JEDCO, Southeastern Louisiana University SBDC and the American Red Cross.
JEDCO is an independent, yet complementary arm of Jefferson parish government.
For information on Churchill Technology & Business Park, contact JEDCO
at (800) 816-3113 or log on to www.
Local banks have partnered with JEDCO
to supplement the program.
JEDCO CEO Yarub Qudah stated that the purpose of the call was to look for local communities that foster skills, entrepreneurship and lead to job creation.
Stories from the interactive atlas will also be featured on the ETF website, JEDCO added.
Chakrabarti said the opening of the administrative office would provide financial support to priority projects that help to find solutions to unemployment, adding that the EBRD is ready to finance small enterprises as well as cooperate with Jordan Enterprise Development Corporation JEDCO
and the Kingdom's private sector for development of governorates.