Aqaba Aqaba Special Economic Zone Authority (ASEZA) organized the first forum for SME financing programs in Aqaba, with the participation of commercial and Islamic banks, the Central Bank of Jordan and Jordan Loan Guarantee Company. 

During his sponsorship of the forum, HE Mr. Nayef Ahmed Bakhit, Chairman of Aqaba Special Economic Zone Authority (ASEZA) stressed the importance of the vital and effective role of SME financing programs provided by the Central Bank in driving economic growth. 

He added that most of the industrial facilities, production and service projects operating in the Hashemite Kingdom of Jordan are classified as small and medium enterprises. Therefore, attention to these projects and work to overcome the challenges and obstacles facing them has been and continues to be the main focus of any development process. Any borrower gets a loan from these programs by providing appropriate incentives, which are consistent with the law of the Authority and its potential. 

He pointed out that the studies of the Department of Statistics proved that the family income from private projects in the governorate of Aqaba is one of the lowest incomes between the governorates. This confirms the need to encourage individuals and families in Aqaba to establish small and medium-sized production projects because they have a positive impact on job creation And reduce poverty and unemployment. 

The Deputy Governor of the Central Bank, Dr. Adel Sharks, explained the program of the Central Bank to support and finance the economic sectors, which was aimed at improving the access of the economic sectors to finance at appropriate times and costs in sectors with high added value to the national economy, Comprehensive and sustainable in the Kingdom. 

"The amount of money available under these programs is about one billion and two hundred million dinars, equivalent to 5% of the direct facilities granted by the banks, and the size of the loan" loan "available to each customer of 4 million dinars for renewable energy and transport projects, and 2 million dinars for other sectors , In accordance with acceptable repayment periods and grace periods at competitive interest rates to suit the financing needs of clients in need of such loans, both in the capital Amman and in the governorates. 

Sharaks announced the launch of a program to be implemented by the Central Bank in response to the directives of His Majesty King Abdullah II Ibn Al-Hussein to find and develop an integrated financing program to support small and medium enterprises for young people and pilot projects. 

In turn, the Director General of the Jordan Loan Guarantee Company, Dr. Mohammed Al-Jafari, pointed out that the main objective of establishing the Jordan Loan Guarantee Company is to stimulate the banking sector to provide financing to small and medium-sized companies by providing security for the risks of this financing. Small and medium sized emerging and working program and guarantee the financing of small and medium enterprises - Guarantee (Islamic finance) with 70% guarantee. 

He pointed out that the percentage of guarantee of loans within the program of guaranteeing industrial finance, services and emerging projects ranges between 70-85% depending on the type of project and the size of the loan required, and that the percentage of guarantee for projects owned or managed by women ranges between 50-80%. 

He added that the company has developed an export credit program that aims to support the Jordanian issuer and encourage exports by providing protection to Jordanian exporters against commercial and political risks that may disrupt their work and cover non-payment risks through cooperation with commercial and Islamic banks, financial leasing companies and microfinance companies . 

The Deputy Chairman of the Aqaba Special Economic Zone Authority, Investment Commissioner, Dr. Imad Al-Hijazin, pointed out the importance of the continuation of these forums and the work of its outputs and recommendations, where the small and medium enterprises account for 97% of the total projects operating in the Kingdom and 40% of the gross domestic product, pointing out that these projects It is labor intensive, not capital intensive, and provides job opportunities, and is the best solution to the problems of poverty and unemployment.

The seminar, which was attended by 25 commercial banks, several small and medium-sized companies and individuals interested in benefiting from the dedicated facilitation programs, included a discussion session to explain how SMEs operating and willing to work in the governorate of Aqaba can benefit from direct financing programs available directly through Islamic banks In accordance with acceptable payment terms and grace periods at competitive interest rates to suit the financing needs of customers in Aqaba Governorate. 

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