As part of the Jordanian government’s efforts to reduce poverty and unemployment nationwide, the Planning Ministry and the Development and Employment Fund (DEF) signed an agreement on Wednesday to grant JOD 500,000 for productive projects in the southern governorate Maan.
According to the agreement, applicants should have academic qualifications of no less than a secondary education degree, be unemployed Jordanians and under 40 years old, and live in Maan.
Financing ceiling will be up to JOD 25,000, Planning Minister Ibrahim Saif said, adding that the low-cost loans, based on Sharia (Islamic law), will carry an annual interest rate of three percent and beneficiaries will benefit from a 12-month grace period and a maturity period of eight years.
The fund, backed by the Planning Ministry, extended loans worth JOD 23 million over the past few years to productive projects across the country that have offered approximately 9,000 job opportunities, DEF Director General Abdullah Freij explained, highlighting that the share of beneficiaries in the badia and rural areas represented nearly 48% of the overall loans, and 60% of the loans went to women.
Loans worth JOD 25 million were extended to over 6,000 projects in 2014, with only 21% going to Amman, Freij added, emphasizing that “the fund’s objective is to offer financing to projects outside the capital.”
According to the agreement, applicants should have academic qualifications of no less than a secondary education degree, be unemployed Jordanians and under 40 years old, and live in Maan.
Financing ceiling will be up to JOD 25,000, Planning Minister Ibrahim Saif said, adding that the low-cost loans, based on Sharia (Islamic law), will carry an annual interest rate of three percent and beneficiaries will benefit from a 12-month grace period and a maturity period of eight years.
The fund, backed by the Planning Ministry, extended loans worth JOD 23 million over the past few years to productive projects across the country that have offered approximately 9,000 job opportunities, DEF Director General Abdullah Freij explained, highlighting that the share of beneficiaries in the badia and rural areas represented nearly 48% of the overall loans, and 60% of the loans went to women.
Loans worth JOD 25 million were extended to over 6,000 projects in 2014, with only 21% going to Amman, Freij added, emphasizing that “the fund’s objective is to offer financing to projects outside the capital.”
Source:
Mubasher
