ADC honors winners of distinguished small projects award 2007

Twenty two project owners participated in the first round of the competition and the objective and transparent evaluation process was conducted by a number of judges who based their decision on standards specified by the ADC Award program to ensure all contestants receive a fair and equal assessment process.

ADC and DEF signed a memorandum of understanding in 2007 according to which the recipients receive monetary awards at a total value of JD6600—JD2400 for first place, JD2200 for second place and JD2000 for third place.

The award aims at honoring the achievements and accomplishments of local small project owners and plays a significant role in fighting unemployment and poverty in the city of Aqaba, while providing families with a sustainable income and a decent standard of living.

ADC's CEO Eng. Imad Fakhoury emphasized the role that small project owners play in enhancing the national economy.

He also said that this award signifies the importance of sponsors and funds in Aqaba, such as the DEF, giving these projects the opportunity to flourish.

He added that this Award will empower the new generation to adopt the spirit of productivity and innovation in order to become future entrepreneurs, falling in line with His Majesty King Abdullah II's vision of significantly reducing poverty and unemployment; this goal can only be achieved with the cooperation of all parties involved.

Mr. Ali Al Ghazawi, General Manager of the DEF said the Fund has undertaken the responsibility to establish a team to manage and organize the award, in coordination with ADC.

According to the agreement, a technical committee was established and included a member from each micro project fund in Aqaba. Also, a judging committee was established making up representatives of the private sector.

Al Ghazawi highlighted the importance of the award, which is the first of its kind in Aqaba and called upon all concerned parties to work hand in hand to encourage self-employment and independence.

At the conclusion of the ceremony, the ANREPCO provided JD's 100 in awards and the Arabic Bank offered in kind awards as a token of appreciation for the efforts made by several small project owners.