BAKU, Azerbaijan, April 7. The European Bank for Reconstruction and Development (EBRD) has signed an agreement to provide up to $75 million (67.9 million euros) to Housing Bank for Trade and Finance (HBTF) in Jordan, Trend reports.
The funds will be used for on-lending to micro, small and medium-sized enterprises (MSMEs) across the country.
The new facility is aimed at expanding access to finance for a key segment of Jordan’s private sector that remains underserved, particularly outside the capital, Amman. It will support Housing Bank in increasing its MSME lending portfolio and reaching new clients, contributing to economic resilience and job creation.
MSMEs are considered a cornerstone of Jordan’s economy but continue to face financing challenges, particularly in the context of a slight decline in GDP growth from 2.6% to 2.4% in 2024.
This marks the third agreement between the EBRD and Housing Bank. It follows a $15 million loan in 2023, co-financed with the Green Climate Fund under the Green Economy Financing Facility, and a $50 million trade finance facility in 2021 to support export and import activities.
Commenting on the agreement, Matteo Patrone, EBRD Vice President for Banking, said the new facility strengthens the existing partnership and demonstrates a shared commitment to supporting MSMEs in Jordan.
Housing Bank CEO Ammar al-Safadi highlighted that the credit line will allow the bank to expand its lending portfolio, enhance financing quality, and increase liquidity, reinforcing its role in supporting economic development.
Founded in 1973, Housing Bank is a universal bank offering services to retail, corporate, public sector, and SME clients across Jordan and through its international network. Since beginning operations in Jordan in 2012, the EBRD has invested more than 2.3 billion euros across 75 projects in the country, with 70% of those investments directed toward the private sector.