Jordan, USAID sign financial advisory accords

(File photo: Jordan News)
AMMAN — The Business Growth Activity (BGA), a USAID-funded project, said Tuesday it had signed financial advisory agreements with three Jordanian companies from the logistics, technology, and healthcare sectors, the Jordan News Agency, Petra, said.اضافة اعلان

The three firms will receive direct assistance through a series of evidence-based interventions to support expansion strategies.

This aligns with USAID BGA’s goals of helping SMEs and start-ups mobilize capital and increase investment into Jordanian enterprises.

“These agreements focus on bringing in investors to help the targeted companies raise capital. The capital would expand operations and increase employment, sales, and exports thus help in creating a sustainable business growth environment in Jordan,” said Daniel Swift, director of Economic Development and Energy Office, USAID Jordan.

USAID BGA has access to a global network of thousands of investment funds, which can be searched for suitable partners for Jordanian companies. USAID BGA will engage with startups and SMEs to articulate their growth stories and prepare documents needed for investor outreach and engagement. Investors will include local, regional and international equity and debt providers.

The CEO of the local firms which sealed an agreement with BGA, said the Americans will provide technical assistance to help his company prepare an investment memorandum with projected financials, identify potential investors, prepare for the due diligence process.

“We believe this approach will favorably impact our business growth and increase our visibility,” said the CEO, who was not identified, according to Petra.

The USAID BGA aims to support Jordan’s SMEs and start-ups improve their productivity and competitiveness, create jobs, foster innovation, promote economic growth and move Jordan towards a more prosperous, resilient, and inclusive future

Envisaged support for SMEs includes access to finance, and improve the country’s business environment through advocacy and public-private dialogue that complements USAID’s policy reform initiatives.

USAID BGA will systematically incorporate gender, youth, and persons with disabilities in the project’s main goals, and core components. USAID BGA is a five-year project (2021–2026) and implemented by the prime contractor Financial Markets International and CrossBoundary as one of its subcontractors.

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