WASHINGTON, June 23, 2017 - The World Bank’s Board of Executive Directors today approved the following project:
Jordan - Innovative Startups Fund Project
IBRD Loan: US$50 million
Loan maturity: 35 years, Grace period: 4.5 years
Project ID: P161905
Project Description: The project will promote entrepreneurship and contribute to job creation by increasing private early stage equity finance for innovative small and medium enterprises (SMEs). The project will set up a private sector-managed fund called the “Innovative Startups and SMEs Fund” (ISSF) which will make investments in innovative startups and early stage SMEs leveraging private sector funds.