JORDAN LOAN FOR SMES AND MID-CAPS

Long-term financing for small and medium-sized enterprises (SMEs) and mid-caps to improve access to finance and financial inclusion, which have been identified as key factors for reinforcing Jordan's economic resilience.

The facility aims to finance eligible small and medium investments undertaken by small and medium-sized enterprises (SMEs) and mid-caps in Jordan, thereby contributing to economic resilience, employment-generating activities and alleviating the economic burden of the COVID-19 crisis in the country. The loan is expected to benefit from a portion of the investment grant made available by the European Union in order to enhance the cost of the local currency tranche to an acceptable level for the borrower and, ultimately, the final beneficiaries.

The Bank will require the intermediary institution to take all the requisite measures to ensure that the procedures including procurement procedures carried out by the final beneficiaries for the sub-projects receiving Bank financing will comply with national legislation and the ElB's Environmental and Social Standards as well as international treaties and conventions signed and ratified by or otherwise applicable and binding in the country.

The Bank will require the intermediary institution to take all requisite measures to ensure that any procurement procedures carried out by final beneficiaries for the sub-projects that the Bank finances are in accordance with the Bank's Guide to Procurement.