Arab Funds For Development

Iraqi Dinar 123 News:– Dr. Ibrahim Saif, the Jordan Minister of Planning and International Cooperation said that we have signed a soft loan agreement with the Arab Fund for Economic Development for the amount of 100 million dollars. He also said that this loan will be used to support very small, medium and enterprise level projects through the Iraqi Central Bank. The CBI will issue this money as a loan to the commercial banks and financing institutions. The current amount of loan will be managed and another soft loan of 50 million dollars by the Arab Funds was also discussed.

Some of the Jordanian institutions are also operating for the most possible capital support. The Jordanian government has taken a soft loan from the World Bank in the past of 70 million dollars to support some major projects and implemented the mechanism to the obtained loans by the Central Bank. The full amount has been granted to the commercial banks that are operating in the sector with some aggressive terms and resulted success from this procedure.

Share This Post

Related Articles

· Designed by RF