European bank supports Jordan's private sector with 100 mln euros

Amman (Jordan), July 5: The European Investment Bank (EIB) said on Sunday that it provided 100 million euros (119 million U.S. dollars) as a line of credit to support the private sector in Jordan against the impact of COVID-19, state-run Petra news agency reported.
The sum was offered to Jordan Kuwait Bank that will on-lend it to the country's small and medium-sized enterprises that have been severely impacted by the unprecedented crisis, EIB said.
Flavia Palanza, director of Neighbouring Countries Department of the EIB, said it is one of the EIB's top priorities to support the resilience of the private sector by providing funding through cooperation with the Jordanian banking sector and the support of the European Union.
Source: Xinhua