To boost Jordan’s economy, a coalition of 16 Jordanian banks launched the Jordan Capital and Investment Fund, the first investment fund of the private sector in the country.
The fund was officially registered with the Ministry of Investment under the 2022 Investment Environment Law and is in line with the national economic modernization vision’s goals, according to a statement.
As stated by the Jordan News Agency, with a $387.6 million capital commitment, the fund looks to allocate funds for upcoming firms to accelerate growth, development, and expansion projects.
The fund aims to contribute to crucial and promising sectors in the country, from food and health security to manufacturing, information, and communication technology.
Hani Al-Qadi, chairman of the Jordan Capital and Investment Fund, says that the fund is vital for accelerating the country’s economic potential growth and unlocking the “promising investment market” opportunities.
“The Government of Jordan, through the Ministry of Investment, extends its full support for establishing investment funds, given their contributions to stimulating and attracting the capital of investment institutions to finance various priority economic sectors with significant competitive advantages,” said Minister of Investment Kholoud Saqqaf at the inauguration.
“In doing so, they help achieve many economic and development goals that directly impact economic growth and efforts to combat poverty and unemployment,” she added.
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