Investment in and Finance for Projects in the Governorates - Governorate Development Fund (closed)

Responsible Directorate

Financial Support Tools Directorate and the Governorate Development Fund

Target segments

• Economically feasible production-oriented projects, innovative ideas, desire and ability to develop the project, production and settlement of commitments.
• Value-added production-oriented projects in terms of the social and economic impact on the surrounding area through job creation and improvements to the surrounding environment.

Place of Provision of Service

JEDCO and its offices in the governorates.

Eligibility requirements

1. The project should be economically feasible, create an acceptable cash flow and is capable of settling its commitments.
2. The project should be located outside the Greater Amman Municipality and within the borders of the Hashemite Kingdom of Jordan, in addition to the administrative districts of Liwas of Al-Jizah, Al-Muaggar and Na'our, provided the project is under establishment.
3. The project should be industrial, service-oriented or agricultural and fall within the sectors and activities supported by the fund.
4. The financing required from the fund should be at least JD100,000.
5. The project owner's contribution should be at least 20% of the value of the project.
6. Jordanian full-time workers should make up at least 60% of the project’s work force (for both operational and new projects).
7. The project should create at least 10 job opportunities for Jordanian workers
8. The names of neither the applicant, nor any of the partners, shall be on the companies' black list, or subject to any legal investigation.
9. The project owner, or any of the partners, should not be a government institution, a government-owned company or a public shareholding company.
10. To ensure financing is approved the project should be registered as a financial company (limited liability or private shareholding company).

Required Documents

• All legal documents related to information pertaining to the applicant must be submitted.
• If the applicant is an existing company, company registration documents and commercial title must be submitted.
• If the project is under establishment, the applicant must submit all preliminary approvals from all relevant parties. If the applicant is an existing company, final approval and permits must be submitted.
• If the project is subject to a zoning plan for the proposed location, a letter of ‘no objection’ and zoning plan compliance for project activity, from the administrative ruler must be submitted.
• Building permit.
• Where the location is owned by the project owner, the title deed for the plot of land, or a letter from the Land and Survey Department showing the status of the land on which the project is to be established, must be submitted.
• In cases where the location is rented, the specific lease agreements must be submitted.
• Engineering drawings and engineering reports relating to the location of the project must be submitted.

Application Deadline

Rolling basis

Application Process

• Attract financing applications:

1. Complete the special form for the Governorate Development Fund (Initial Contact Report) which is available at any of JEDCO’s offices.

• Applications are evaluated against fund eligibility criteria.
• Eligible projects are submitted to the sub-committee to obtain initial approval to proceed and complete the application process.
• Prepare feasibility studies, which can be completed:

1. Through the fund
2. By the project owner

• Investment Study and Analysis:

1. The investment team review studies and reach final agreement with the project owner on the details and financing structure of the project.

• Investment decision taken:

1. Projects are presented to the executive committee of the Governorate Development Fund for approval.

• After approving financing:

1. Identification of requirements and Approval letter signed.
2. Financing agreement signed. 
3. Project implementation commences.
4. Follow-up project implementation progress and collect fund re-payments as scheduled.

Partner Organizations

None

Service Fee

None

Service duration

• A maximum of three months from the submission date of the application and final feasibility study, or three months from the submission the full application form, all required documents and receipt of the investment decision.
• Financing approval for a maximum period of 10 years from the date of financing agreement signature. Financing amounts are transferred on an installment basis as stipulated in the investment plan.
• Agreement signature within three days following completion of signature requirements.
• Transfer of payments within 14 working days following completion of payment requirements.