The Jordanian Loan Guarantee Corporation (JLGC) has commenced the signing of agreements for the Export Credit Guarantee Program, which is part of the initiatives offered by the Industry Support and Development Fund under the Ministry of Industry, Trade, and Supply.Several industrial companies benefiting from the program are involved in these agreements.This program presents a genuine opportunity for export-oriented enterprises or those seeking to venture into exporting for the first time, as it provides a certain percentage of credit guarantee cost coverage.To qualify, the company must be Jordanian and fully privately owned, in addition to meeting other criteria set by the JLGC. The program covers credit expenses, including inquiry fees, ranging from 50% to 75%, with a maximum support limit of JD35,000 per exporter annually.Mohamed al-Jafari, Director General of the Corporation, affirmed the commencement of the Export Credit Guarantee Program, noting that over forty industrial companies have already signe
d deals during a meeting held at the Jordan Chamber of Industry, attended by key partners of the fund.Furthermore, he emphasized that this program serves as a secure gateway for Jordanian exporters to penetrate new markets, expanding sales and boosting exports in existing markets.Additionally, it acts as a trustworthy certificate issued by the JLGC to exporters, providing credit information on potential and existing importers to evaluate creditworthiness and enhance the competitiveness of Jordanian products.Moreover, he highlighted that the corporation organized a comprehensive series of informational sessions regarding the program, enabling industrial company owners to gain significant insight into the program’s benefits, application procedures, and online submission through the fund’s dedicated website.Approximately 86 guarantee applications have been received by the corporation from industrial firms, with 47 of them approved after completing all the required documents. It is expected that the total value o
f secured shipments executed by the beneficiary companies during the first round will exceed $193 million, he stated.Al-Jafari urged all eligible companies to seize the opportunity and benefit from the program.
Source: Jordan News Agency