Jordan is a small, lower middle income country with an estimated population of 6.29 million in 2012. The country been praised as one of the best reformers among middle income countries, making significant progress in implementing structural reforms aimed at liberalizing the investment climate and empowering the private sector, as well as liberalising the trade regime. Unemployment and poverty rate are higher in the governorates outside Amman. About 90% of Jordanian SMEs are registered in Amman and no sustainable growth of Jordan will be possible if sufficient job opportunities are not created outside the capital. The creation of the Governorate Development Fund will build on and complement the work that has been conducted by JEDCO under the Venture Capital Programme that was initiated in 2008 by the Government of Jordan and in cooperation with the European Investment Bank (EIB) for the creation of two venture capital funds (the Early Stage EUR 5 million and the Capital for Growth Fund EUR 20 million). JEDCO was mandated and instructed by the Government in July 2012 by decree number 617 to design the overall structure of the Governorate Development Fund, to manage the day to day activities of the Fund “Fund Manager” and to be the Anchor Investor by representing the Government interest. In this context, AETS has been retained by the European Commission to Provide Consultancy Services for JEDCO for the preparation of Feasibility Studies under the Governorate Development Fund (GDF) with the overall objective to facilitate Small and Medium Enterprises (SMEs) access to the Governorate Development Fund, and other financial institutions in Jordan, with the aim to further their business growth.

Economic Development

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