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Jordan inks pact with World Bank to boosts lending to smaller businesses

Jordan has signed an agreement with two World Bank agencies to help increase lending to smaller enterprises in the kingdom, Jordan Times has reported. "The International Bank for Reconstruction and Development (IBRD) and the International Finance Corp (IFC) will support the Jordan Loan Guarantee Corp (JLGC) as it scales up its lending operations," the World Bank said. The deal will help JLGC build its institutional capacity, increase its outreach, and develop new financial products tailored to the needs of entrepreneurs and small businesses.