World Bank considers supporting Jordanian startups with additional $50 million | Business

Ammon News – The World Bank is considering providing a proposed new financing of $50 million to support start-ups, small and medium-sized enterprises in Jordan, to stimulate private investment and support employment opportunities in the private sector, building on what the Jordan Entrepreneurship Fund has achieved.

The proposed project is under study and comes as a continuation of the success achieved by the Jordan Entrepreneurship Fund, funded by the Central Bank of Jordan (CBJ) and the World Bank, in its first phase, which contributed to achieving tangible achievements to support the entrepreneurship environment in Jordan, according to the bank’s data.

The project will build on the Fund’s position as a leading institution in the strong investment environment regionally and internationally, to enhance funding and expand opportunities for startups, with a focus on investments in venture capital funds, co-investment in startups, stimulating private investment, strengthening links with regional and global markets, and supporting the growth of investable companies through the provision of advanced incubation and acceleration services.

Also, the proposed project supports the objectives of the World Bank-Jordan Country Partnership Framework (CPF) (2024-2029), particularly in improving competitiveness and investment in high-potential sectors, expanding SME growth, promoting entrepreneurship, and improving access to finance.

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