Ministry Unveils Second Phase of Industrial Fund Programs

The second phase of the Industrial Support Fund programs kicked off Tuesday, inviting companies to submit applications starting April 8, via the designated electronic platform, the Ministry of Industry, Trade and Supply announced. Yousef Shamali, Minister of Industry, Trade and Supply, said in a statement that the platform will cater to applications for three distinct programs: output-based incentives administered by the ministry, industry modernization facilitated by the Jordan Enterprise Development Corporation (JEDCO) and export credit guarantees offered through the Jordan Loan Guarantee Corporation (JLGC). The application process for the second round of the export promotion program, overseen by the Export House Company, will be announced in the latter half of 2024. Shamali elaborated that the total allocations for the second phase of all Fund programs stand at approximately JD42 million, benefiting over 330 industrial facilities. They will be disbursed in the form of incentives, grants and guarantees. F or the initial phase in 2023, the designated application platform received a total of 1,400 submissions across all four programs. These efforts resulted in agreements valued JD45.168 million for 395 industrial facilities throughout the past year, amounting to 50.2 percent of the total financial allocations for Fund programs, which stand at JD90 million. In the upcoming period, orientation sessions will be organized to elucidate eligibility criteria, financial support particulars, permissible activities, and the application process. The application window will remain open for two months following the commencement date. Source: Jordan News Agency