AMMAN – The
European Bank for Reconstruction and Development (EBRD) has launched a new program – Green Star Venture – aimed at
enhancing the competitiveness and sustainable growth of Jordanian small and
medium-sized enterprises (SMEs) and start-ups contributing to the green
transformation in the country and the wider southern and eastern Mediterranean
region, the Jordan News Agency, Petra reported.
اضافة اعلان
In a statement on Wednesday, the bank said that Jordan is the first economy in
the EBRD regions to pilot the program. Four enterprises were selected from
Jordan’s start-up scene to join Green Star Venture, following a rigorous
selection process. The companies come from a broad range of sectors, including
robotics, hydroponic farming technology, artificial intelligence, and
sustainable cosmetics.
Green Star Venture, an extension of the EBRD’s existing Star Venture program,
mobilizes international experts, mentors and local advisers to work with
selected start-ups to improve their performance and long-term sustainability.
The young companies will also benefit from access to technical assistance,
mentoring and advice on financing mechanisms to help them enter international
markets and grow, contributing to the global climate change mitigation and
adaptation efforts.
The Green Star Venture program in Jordan is supported by the Netherlands via
the
High-Impact Partnership on Climate Action (HIPCA).
Philip ter Woort, EBRD Director for the Eastern Mediterranean region, said:
"We are proud to launch the Green Star Venture program in Jordan today and
we look forward to supporting our first four start-ups in the cohort. SMEs and
start-ups can be a catalyst for a greener economy by offering innovative green
products and services. They are key to supporting the de-carbonization and
climate adaption goals of the international community, and we are proud to be
able to support their growth in Jordan through this program."
The EBRD is a leading investor in Jordan. To date the bank has invested 1.6
billion euros in 64 projects, supporting private sector development, promoting
sustainable energy and infrastructure, and enhancing the delivery of public
services. Supported by the
European Union, the Bank’s Advice for Small
Businesses program has helped transform more than 450 SMEs in Jordan.
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