Published: 2018-07-11 14:48
Last Updated: 2018-07-11 17:48
The Crown Prince Foundation (CPF) signed a Memorandum of Understanding (MoU) with the Khalifa Fund for Enterprise Development (KFED) on Tuesday, to support innovation and business development in the Kingdom.
According to the MoU, the CPF will be granted a total amount of $100 million in soft loans for young entrepreneurs and startups, in order to develop their micro, small and medium projects and enhance their leadership role in the socioeconomic development of the country.
To meet their goals, both parties are expected to offer practical measurements for managing the funds in an institutional manner, and reach the target groups of young men and women in the impoverished areas in Jordan, who are willing to develop their businesses.
The MoU, signed in Abu Dhabi by CPF Chairman of Board of Trustees, Fawaz Hatem Zu'bi, and KFED's Chairman, Hussain Jassim Al Nowais, aims to strengthen the cooperation between the two parties to support entrepreneurship and small businesses.