(MENAFN- Kuwait News Agency (KUNA)) AMMAN, Nov 20 (KUNA) -- United Arab Emirates' (UAE) Khalifa Fund for projects development will offer USD 100 million in easy loans to Jordan to finance some 22,000 projects about creativity, innovation, business leadership and development.
Hussain Al-Nuwais, chairman of board of the Fund, signed the loans agreement with chairman of board of trustees of Jordanian Crown Prince foundation Dr. Fawaz Al-Zubee, on Tuesday.
Khalifa Fund will provide easy loans for business leaders and start-ups to carry out small and medium-size development projects, a statement by the Royal Court said.
Al-Nuwais was quoted by the statement as saying loans would finance around 22,000 projects over five years, thus providing around 28,000 jobs.
Around 47 percent of funding would be dedicated for women, while rural areas would have 40 percent of finance, he said.
Khalifa Fund, active in spreading SMEs in the UAE, had already financed more than 1,400 projects in Jordan.
The loan agreement was signed on sidelines of Abu Dhabi Crown Prince Mohammad Al-Nahyan's visit to Amman.
The UAE leader meanwhile held talks with Jordanian King Abdullah II on economic, development and political cooperation.
King Abdullah thanked the UAE for its support to development projects in Jordan.
Sheikh Mohammad, who arrived in Amman earlier today on a short visit, said Jordan has a major role in the Arab and Middle East regions, particularly in the fight against terrorism and extremism.
The two sides reaffirmed importance of ending the Israeli-Palestinian conflict towards reaching a two-state solution in line with UN resolutions and Arab peace initiative. (end) mjb.ab.bs
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