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Jordan launching a business loan portfolio for retired serviceman

by | May 25, 2021

loansAmman, Jordan, (NNN-PETRA) : Jordan’s Planning and International Cooperation Minister, Imad Fakhoury, announced launching the 6th phase of the project, to enhance productivity of military retired servicemen, with a cost of JD 700,000 (USD 988,803), in cooperation with the Economic and Social Association of Retired Servicemen and Veterans (ESARSV).

Fakhoury noted that the phase will enable 15 societies to start productive enterprises this year, funded by the ministry, in response to several military retirees’ societies.

He said, the ministry is currently studying to establish a loan portfolio for micro enterprises for retirees, to support their individual and family productivity.

During the inauguration ceremony of a training workshop for members of retirees’ cooperative societies, Fakhoury said, the ministry has funded 78 productive enterprises, supported establishing 43 consumer markets, and secured 445 job opportunities for retired servicemen, which were benefited by 4,350 members of society.

The enterprises that were partially funded by the Planning Ministry were related to industry, agriculture, services, ICT, medicine, vocations, and tourism.

The minister welcomed any ideas or proposed projects to help this segment of Jordanian community and improve the livings of individual retirees and their families, highlighting the ministry’s partnership with ESARSV since 2004, through supporting and funding development and production projects.

During the past few years, the government has focused on funding and supporting enterprises for local communities, in all Jordanian governorates through its productivity-development programme, as part of the endeavours to curb poverty and joblessness, Fakhoury said.

For his part, Retired Maj. Gen. Ahmad Ajarmeh, Director General of ESRSV, expressed appreciation to King Abdullah’s continuous support for retired servicemen and veterans, noting the number of military retirees’ societies across the Kingdom, which reached 141 societies, three of them for female retirees, while the total value of grants during the past five phases was JD 475 million (USD 671 million).

The workshop aims to improve the members’ technical, financial, and administrative skills, to plan, implement and own productive enterprises, that are based on the communities’ needs.

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