The European Bank for Reconstruction and Development (EBRD) and the European Union have awarded US$5 million to Jordanian telecommunications operator Al-Hadatha Telecom and Technology PSC (DAMAMAX) to support the expansion of its fibre optic services to customer premises (FTTP).
An EBRD loan of up to $4.5 million in local currency and dollars will be complemented by an EU investment grant of $487,500. It will be used to finance investments to extend fibre optic networks to underserved areas of the capital Amman. The availability of affordable broadband will benefit local small and medium-sized enterprises (SMEs) as well as households.
Businesses should be able to improve their productivity through efficient Internet access. The investment grant is provided under the EBRD’s EU-supported Trade and Competitiveness Programme, which helps SMEs in Jordan, Egypt, Morocco and Tunisia invest in new technologies.
Since 2012, the EBRD has awarded nearly €1.5 billion to 50 projects across Jordan, 73% of which are in the private sector.