The Jordanian Enterprise Development Corporation (JEDCO) has signed a Memorandum of Understanding with the United Nations Development Program (UNDP) aimed at enhancing entrepreneurship and innovation. In addition to collaborate in implementing initiatives and programs to empower youth and women, guiding SMEs towards a green economy, and strengthening the local economy consequently.

The MoU, signed by Mr. Abdul-Fattah Al-Kayed, CEO of JEDCO, and Mrs. Randa Abu-AlHassan, UNDP Resident Representative, aims to support training opportunities, knowledge exchange, acceleration and mentoring for entrepreneurs. It also seeks to assist SMEs in accessing resources, connecting with potential investors, and engaging with financial service providers to support their growth journey.

Additionally, the MoU aims to find opportunities to provide financial knowledge towards awareness of financial matters among farmers and entrepreneurs through educational initiatives and training programs, in addition to enhancing the transition for a booming green economy in Jordan.

Through this agreement, both parties will work together to support SMEs implementing environmentally friendly initiatives, and provide sustainable job opportunities for youth through financial and technical support, guidance, and building partnerships with investors.

The MoU focuses on capacity-building programs and business support for specific targeted groups such as youth and women, with an increased focus on environmentally friendly projects, entrepreneurship, smart agricultural practices and marketing, new high-value crops, and the green and circular economy.

The parties will collaborate in joint activities aimed at enhancing the protection of small farmers by supporting comprehensive agricultural insurance programs, developing innovative solutions to decrease the financial load on farmers, and facilitating access to necessary funding.

The MoU also seeks to enhance the ability of farmers and agricultural institutions in Jordan to encounter climate change challenges, develop innovative water management solutions such as rainwater harvesting systems, and provide the necessary financial and technical support for implementing these solutions.

Furthermore, the MoU aims to adopt learning and knowledge exchange through staff rotation to learn from each other's practices, developing shared knowledge management systems, and exchanging lessons learned from project implementation, and finally collaboration in searching for key development challenges in Jordan.