27-03-2025
AFESD inks $10mln funding agreement with Invest Bank
KUWAIT - The Arab Fund for Economic and Social Development (AFESD) on Wednesday signed with Invest Bank an agreement for trade funding worth USD 10 million, where the bank will provide a credit fund for supporting flow of commodities and basic services in and outside Jordan and contribute to developing the private sector.
ADFESD Director General and Chairman Badr Al-Saad said in press release that diversifying financial products is in harmony with the fund's new strategy to bolster financial sustainability and maintain continuous support for the member States.
The Arab fund can create new opportunities to back up local and sharing companies in strengthening the Jordanian banking sector and this is possible through supporting leading banks, namely the Invest Bank.
Muntaser Dawas, Chief Executive Officer of Invest Bank said in a statement the this funding would enhance the bank's ability to support the clients and help them in commercial operations, decrease hazards and make use of new international opportunities.
Invest Bank is listed in Amman stock exchange and manages 12 growing branches in Jordan.
AFESD is a regional financial foundation headquartered in Kuwait. Its operations mainly center on financing public and private investment enterprises.
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