(MENAFN- Jordan Times) The Jordan Enterprise Development Corporation (JEDCO) on Monday launched the second phase of the EU-funded Jordan Services Modernisation Programme (JSMP).
According to a statement made available to The Jordan Times, JEDCO Chief Executive Officer Yaroub Qudah announced during a ceremony attended by owners of small- and medium-sized enterprises (SMEs), that the support for industrial institutions will be extended under an EU 25 million euros grant.
Qudah underlined the importance of the two programmes, particularly as the services sector contributes to around 70 per cent of the gross domestic product (GDP), while the contribution of the industrial sector is 23 per cent.
He indicated that after the EU agreements, the corporation's credit portfolio reached more than JD300 million after it was only one million dinars few years ago.
He said that the first phase of the JSMP has supported 175 beneficiaries for a total exceeding 8.5 million euros, while more than 273 industries have received support under the industrial support programme.
During the ceremony, Industry and Trade Minister Shabib Ammari spoke about the challenges facing the national economy, especially in relation to problems created by the lack of cash liquidity and the scarcity of water and energy resources.
He stressed that the government is working to lift subsidies and limit its support to the underprivileged people through a mechanism within a period not exceeding five years.
Ammari underlined the need for all citizens to take part in the government measures to address the budget deficit, indicating that it is incapable of supporting basic commodities, such as flour and fuel if their prices rise globally.
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