Amman: In a push to strengthen local entrepreneurship and tackle unemployment, the Development and Employment Fund in Irbid has issued JD 2.3 million in financing since the beginning of the year, supporting 170 small-scale projects and generating 292 job opportunities, according to Irbid Branch Director Issa Awawdeh.
According to Jordan News Agency, Awawdeh explained that the Fund’s mission aligns with national efforts to reduce poverty and joblessness by encouraging youth to take initiative through self-employment and the launch of income-generating ventures. The focus is on empowering small and medium-sized enterprises (SMEs) through preferential profit-rate financing, recognizing their role in driving economic resilience, especially in underserved governorates.
Awawdeh highlighted that special attention is given to productive and economically viable projects as part of a broader strategy to foster a culture of entrepreneurship and reduce dependence on traditional employment paths. This approach is intended to cultivate a dynamic business environment that can adapt to changing economic conditions.
Regarding loan eligibility, applicants must be between 18 and 65 years old, have their business registered as a sole proprietorship with the Ministry of Industry, Trade, and Supply, and be authorized to sign on its behalf. Additionally, both the project and its employees must be enrolled in social security before the final loan installment is released, ensuring compliance with national regulations and promoting a formalized business structure.