Jordan's King Abdullah II and Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces Sheikh Mohammed bin Zayed Al Nahyan have signed an agreement between the Khalifa Fund for Enterprise Development and the Crown Prince Foundation in Jordan to support and finance micro, $ 100 million.

 

The agreement was signed in Amman, Jordan by the Chairman of Khalifa Fund for Enterprise Development Hussein Jassim Al Nuwais and Fawaz Hatem Al Zu'bi, Chairman of the Board of Trustees of the Crown Prince Foundation in Jordan.

 

The agreement aims to support entrepreneurship and enable a series of pilot projects to contribute to the Jordanian government's efforts to create a stable and balanced economy that will boost economic development in the Kingdom.

 

The agreement aims at funding about 22,000 projects over five years. These projects are expected to contribute about 28,000 permanent jobs to Jordanian youth. About 47 percent of the total projects financed for women are allocated and rural areas account for about 40 percent of the total funding.

 

The Khalifa Fund for Enterprise Development, established 11 years ago in Abu Dhabi, has become one of the leading institutions to promote the culture of entrepreneurship and support small and medium enterprises in the United Arab Emirates, where it has financed over 1,400 projects within the country. Egypt and Chechnya through pioneering financing programs.

 

The Crown Prince Foundation was established in 2015 to empower young Jordanians to achieve their future aspirations. It seeks to support the active involvement of young people through participation, leadership and competitiveness. The Foundation focuses on providing youth platforms and enabling them to make a difference.

 

Its initiatives target thousands of young people each year from all Jordanian governorates and seek to create a cadre of young service-oriented youth who will inspire other young people to serve their communities