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17:11 GMT
The Arab Fund for Economic and Social Development (AFESD) Chairman Fawzi Al-Hunaif with Capital Bank of Jordan's CEO Tamer Ghazaleh
AMMAN, Oct 27 (KUNA) -- The Arab Fund for Economic and Social Development (AFESD) on Monday provided a USD 25 million loan to Capital Bank of Jordan to promote the bank's capital base and help in its operations aiming at funding small and medium environmentally friendly projects.
"This investment shows AFESD's continued commitment to diversifying its finance offers and supporting the development of the private sector in member states," the fund's Director-General and Board Chairman Fawzi Al-Hunaif was quoted in a AFESD release, a copy of which was obtained by KUNA.
"We are proud of our partnership with Capital Bank of Jordan and prestigious finance institutions to support funding climate transition and small and medium-sized enterprises that act as the key engine of growth and create jobs," he added.
For his part, Capital Bank of Jordan's CEO Tamer Ghazaleh said this deal reflects the bank's ability to achieve sustainable growth and keep offering innovative finance solutions that help develop green economy and enable small and medium-sized enterprises to attain sustainable success.
Based in the State of Kuwait, the Arab Fund for Economic and Social Development (AFESD) was established in 1968 as a regional financial institution that supports economic and social development in Arab countries. (end)
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