AMMAN: The European Bank for Reconstruction and Development (EBRD) is boosting export and import activities in Jordan by providing a $10 million trade facility to Capital Bank Jordan (CB) under the EBRD’s Trade Facilitation Program (TFP).
The TFP facility will enable CB to provide a wider range of trade finance products to its customers and to develop new products. The EBRD’s support will also allow CB to reach out to a broader range of companies engaged in cross-border trade.
The TFP currently includes over 100 partner banks in 23 countries where the Bank invests, with limits exceeding €1.5 billion in total, and more than 800 confirming banks worldwide.
Jordan became a member of the Bank in 2012 and to date the EBRD has committed €400 million across 20 projects in various sectors of the country’s economy. Through the EBRD’s Small Business Support programmes the Bank has also initiated 67 technical assistance capacity-building programmes directly benefiting Jordanian small and medium-sized enterprises.
