The European Bank for Reconstruction and Development (EBRD) is strengthening the resilience of the Jordanian economy by providing a loan of up to US$ 30 million to Cairo Amman Bank for on-lending to private businesses in the country.

The loan comes under the EBRD coronavirus Solidarity Package, established to meet the immediate short-term financing needs of existing clients.

Small businesses form a significant segment of the Jordanian economy and supporting them in these challenging times remains a priority for the EBRD.

Addressing the economic impact of the pandemic, the funding will be on-lent in short-term loans to private small and medium-sized enterprises (SMEs) and firms facing liquidity strains due to a decrease in their activities, turnover and/or profitability.

Cairo Amman Bank (CAB) is the fifth-largest bank in Jordan with total assets of US$ 4.6 billion as of 30 September 2020. While CAB focuses predominantly on retail operations, it is a universal bank offering a wide range of products and services including micro, SME and corporate lending.