Housing Bank Signs $75 Million Credit Facility Agreement with EBRD to Support MSMEs in Jordan - Jordan News
Housing Bank Signs $75 Million Credit Facility Agreement with EBRD to Support MSMEs in Jordan •The agreement with the European Bank for Reconstruction and Development (EBRD) provides Housing Bank with a $75 million credit facility to support its lending to micro, small, and medium-sized enterprises (MSMEs) outside of Amman. اضافة اعلان •This partnership aligns with the Central Bank of Jordan's (CBJ) policies and initiatives aimed at promoting financial inclusion and improving access to finance. Housing Bank signed a $75 million credit financing agreement with the European Bank for Reconstruction and Development (EBRD) aimed at strengthening lending to micro, small, and medium-sized enterprises (MSMEs), particularly in underprivileged areas outside the capital, Amman. This agreement is expected to drive growth and sustainability for these businesses, contributing to economic diversification and stimulating local economies. The agreement was signed by Housing Bank CEO, Ammar Al-Safadi, and EBRD Vice President for Banking, Matteo Patrone, , at Housing Bank's headquarters, with officials from both institutions in attendance. This partnership marks the third collaboration between Housing Bank and EBRD, reflecting Housing Bank's continued efforts to promote financial inclusion in line with global trends and the Central Bank of Jordan's (CBJ) vision for sustainable economic growth, access to financing remains a key challenge to realizing this vision. This agreement aims to address this obstacle by providing vital financial support to these businesses. Commenting on the agreement, Ammar Al-Safadi said, 'Through this financing, we aim to expand our ability to offer flexible and competitive solutions that support entrepreneurs across Jordan. This will help them grow their businesses, enhance innovation, and improve their competitiveness.' Furthermore, Al-Safadi emphasized that this agreement is vital for Housing Bank, as it demonstrates a successful partnership between local and international financial institutions to foster a supportive business environment and stimulate investment. Additionally, the agreement will allow Housing Bank to expand its lending portfolio to MSMEs, enhancing its client base, improving the quality of its financing portfolio, and increasing liquidity—all of which reinforce its position as a leading financial institution in supporting development. Mr Patrone, said: 'We are very pleased to have signed this facility, which further deepens our partnership with HBTF, a leading financial institution in Jordan. This third engagement reflects our shared commitment to supporting MSMEs and driving economic growth. Together, we are creating more opportunities for businesses to thrive and contributing to a stronger and more resilient economy.' Notably, in 2023, EBRD provided a $15 million loan to Housing Bank, co-financed with the Green Climate Fund (GCF), under the Green Economy Financing Facility (GEFF) to support green investments in Jordan. In 2021, EBRD extended up to $50 million to boost export and import activities.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Jordan News
3 days ago
- Jordan News
Housing Bank Sponsors Residential Housing at King's Academy - Jordan News
Housing Bank has reaffirmed its commitment to education through its recent support of King's Academy, a leading boarding and day school in Madaba. In recognition of this contribution, the school has renamed the Sulafat house to bear the bank's name. اضافة اعلان Sulafat House is one of nine residential houses within King's Academy's boarding program and is dedicated to welcoming and housing first-year students. The residence was established as part of His Majesty King Abdullah II's vision for King's Academy to serve as a model for secondary education in the Middle East. This initiative also aligns with Housing Bank's corporate social responsibility strategy, which emphasizes support for the education sector. The name Sulafat is inspired by the Arabic word for 'turtle,' referencing the star Sulafat, the second brightest in the Lyra constellation. Much like its celestial namesake, the residence embraces the principle of 'slow but steady' growth, nurturing students with the skills and independence needed for long-term personal and academic success. Housing Bank's sponsorship of Sulafat is part of a broader history of partnership with King's Academy, which includes contributions to the school's guest house, student scholarship programs, and other educational initiatives. This continued support reflects the bank's five-decade-long legacy of empowering academic institutions and advancing educational opportunities across Jordan. It is worth noting that King's Academy, a non-profit school, provides need-based financial assistance to nearly 50% of its students, making high-quality education accessible to a wide range of talented youth. The school's mission—to offer transformative learning experiences and shape future leaders who will make a positive impact in their communities and beyond—resonates deeply with Housing Bank's values and vision for sustainable development. It is worth noting that Housing Bank's recent support for King's Academy, a leading non-profit school, stems from the bank's belief in the role the school plays as a model for schools in Jordan and the world. It is committed to providing need-based financial grants to approximately 50% of its students, aligning with its transformative mission, centered on providing pioneering and unprecedented educational opportunities for promising youth, enabling the youth to make change within their communities and beyond.
Jordan News
28-05-2025
- Jordan News
Housing Bank and Saudi EXIM Bank Sign $10 Million Financing Agreement - Jordan News
Housing Bank and Saudi EXIM Bank Sign $10 Million Financing Agreement Housing Bank has signed a $10 million credit line agreement with the Saudi Export-Import Bank (Saudi EXIM Bank) to finance the import of Saudi-origin goods and products by the bank's clients. This initiative aims to boost the flow of non-oil Saudi imports into Jordan and strengthen trade ties between the two countries. اضافة اعلان The agreement was signed at Saudi EXIM Bank's headquarters in Riyadh by Mohammed Naser Abu Zahra, Executive Vice President and Head of Corporate Banking at Housing Bank, and Eng. Abdullatif Al-Ghaith, Director General of the Lending Department at Saudi EXIM. This partnership reflects Housing Bank's ongoing commitment to enhancing financial inclusion by expanding its lending portfolio and financing solutions, particularly for Jordanian importers working with Saudi exporters. Saudi Arabia remains the leading exporter to the Jordanian market. The agreement is expected to meet the rising demand for Saudi goods in Jordan and foster new export opportunities for Jordanian businesses. It also supports the transportation and trade sectors, aligning with the Central Bank of Jordan's vision of offering practical financing tools that ease access to liquidity and reduce logistical challenges. It is worth noting that Housing Bank provides a comprehensive suite of services to support businesses and merchants, including financing, credit, and guarantee programs, as well as facilities, advanced digital services, and a wide array of commercial solutions.
Jordan News
14-05-2025
- Jordan News
Housing Bank Renews Diamond Sponsorship of the Arab Group for the Protection of Nature for Fifth Consecutive Year
Housing Bank Renews Diamond Sponsorship of the Arab Group for the Protection of Nature for Fifth Consecutive Year Housing Bank has renewed its Diamond Sponsorship of the Green Caravan initiative, led by the Arab Group for the Protection of Nature (APN), for the fifth consecutive year. As part of its ongoing support, the bank donated 2,000 fruit trees, of which 500 were planted in Al-Aghwar Al-Shamaliyeh with the active participation of Housing Bank's volunteer employees. اضافة اعلان This initiative falls under the umbrella of the bank's corporate social responsibility (CSR) program, Imkan by Iskan, particularly focusing on the environmental sustainability and social empowerment pillars. Through this program, Housing Bank continues to empower civil society organizations that contribute to reforestation, environmental protection, and the promotion of sustainable livelihoods. The Green Caravan program enjoys strong engagement from Imkan by Iskan volunteers, who regularly participate in tree planting campaigns alongside APN members. This hands-on involvement highlights the bank's commitment to volunteerism, sustainability, and community involvement, while also fostering a spirit of teamwork and civic responsibility. Launched in 2003, the Green Caravan reflects a comprehensive development vision that sees tree planting as a cornerstone of civilization. By providing fruit-bearing trees to underprivileged communities, the initiative not only supports environmental goals, but also helps generate income, reduce poverty and unemployment, and preserve natural resources for future generations.
