Jordan Secures €35 Million German Grant to Boost Employment Through Entrepreneurship
The Jordanian Ministry of Planning and International Cooperation has signed three grant agreements with the German Development Bank (KfW) totaling €35 million. This significant funding is dedicated to implementing a new project titled "Employment through Entrepreneurship," aimed at bolstering Jordan's private sector.
Fueling Jordan's MSMEs and Job Creation
The core mission of this project is to provide crucial financing to Micro, Small, and Medium-sized Enterprises (MSMEs) across Jordan. By supporting the growth of these businesses, the initiative aims to directly facilitate the creation of new, formal, and sustainable job opportunities, addressing key economic priorities for the Kingdom.
A Strong Focus on Women's Economic Empowerment
A central pillar of the "Employment through Entrepreneurship" project is its dedicated focus on enhancing the economic empowerment of women. Both Jordanian and German officials emphasized that the funding will prioritize support for MSMEs that are led by women, ensuring that female entrepreneurs have greater access to the capital needed to grow their businesses.
Leadership on Strengthening the Entrepreneurship Ecosystem
The signing ceremony was attended by key figures including the German Ambassador to Jordan, Dr. Bertram von Moltke. Her Excellency Zeina Toukan, Minister of Planning and International Cooperation, expressed her appreciation for Germany's ongoing support. "This new support will contribute to empowering MSMEs, especially those led by women, enhancing the entrepreneurship ecosystem, and increasing access to finance to create new economic opportunities in line with the priorities of the Economic Modernization Vision," she stated.
Matthias Schmidt-Rosen, Director of the KfW office in Jordan, added, "Germany is firmly committed to supporting private sector development in Jordan as the key to creating new jobs. Through this grant, we will provide financing to MSMEs to support their growth."
A Renewed Strategic Partnership
This agreement marks another important milestone in the long-standing strategic partnership between Jordan and Germany. It reflects a shared commitment to fostering a dynamic and inclusive economic environment in the Kingdom.
Looking Ahead: Driving Jordan's Economic Modernization
The injection of €35 million into Jordan's entrepreneurship ecosystem is expected to provide a significant boost to the private sector. By increasing access to finance for SMEs—the backbone of the economy—this project will play a vital role in driving economic growth, fostering innovation, and helping to achieve the ambitious goals outlined in Jordan's Economic Modernization Vision.
Source: Kabar News