SMES In Egypt, Jordan to Benefit from $500 Million in U.S. Loans
Wednesday, August 10, 2011
The Overseas Private Investment Corp., an independent agency of the U.S. government, secured $500 million for a lending facility, of which half will be provided to Egypt and the rest to Jordan.
OPIC will guarantee loans by local banks to SMEs, microfinance institutions and other approved borrowers.
By filling in the gap in access to credit by SMEs in Jordan and Egypt, the initiative aims to spur private sector growth and generate new jobs in the two countries.