The collaboration will see the Khalifa Fund allocating $100 million to support entrepreneurship and development projects in Jordan.
The Khalifa Fund and the Crown Prince Foundation in Jordan announced that they have signed an MoU, allocating $100 million towards promotion of entrepreneurship, encourage innovation and achieve sustainable growth of SMEs in Jordan.
The collaboration states that both countries will support creativity, innovation as well as develop entrepreneurship in line with their respective national strategies, taking into account the national regulations and policies in the UAE and Jordan.
The two parties undertake to implement major programmes and special initiatives to support innovation and the growth of microfinance and SMEs.
Additionally, under the MoU, both parties seek to contribute effectively to building the capacities of women, youth and people from disadvantaged areas, with the aim of fueling an entrepreneurial culture among the youth.
The Khalifa Fund will ensure the financial support, the implementation and monitoring of projects as well as the provision of expertise required for the Crown Prince Foundation.