ESCWA announce $130m grant for SMEs companies after conclusion of Arab Entrepreneurship Summit
The United Nations Economic and Social Commission for Western Asia (ESCWA) has concluded the first Arab Entrepreneurship Summit by announcing the commitment of its partners supporting small and medium-sized enterprises, worth more than $130 million.
ESCWA Executive Secretary Rola Dashti announced with her partners these commitments, which include digitizing 100 companies that are still far from the world of e-commerce and electronic platforms, supporting the financing of projects worth $130 million, training 40,000 young men and women to develop their capabilities, and providing technical assistance to more than 400 companies in the fields of Quality Compliance, Digital Transformation, Energy Efficiency and Environment, in addition to the opening of two Entrepreneur Support Centers in Morocco and Saudi Arabia.
In addition, the partners committed to support the expansion of the business of more than 50 companies and support them to expand beyond their borders.
As ESCWA and its partners seek to work on the localization of new technologies in the Arab region, Dashti stressed that the success stories presented at the summit proved that nothing is impossible when there is persistence, perseverance and support. She said: “We will succeed in building bridges and strengthening cooperation between you and with you, and together we will cross the borders of your countries to the Arab region to reach other regions in the world.” Addressing young men and women, she added: “The challenges are great and the road is long, but our hope in you is great and our belief in your capabilities is limitless.”
The participants, including entrepreneurs and owners of small and medium enterprises, recorded their own commitment for the next year, to be re-evaluated during the second Arab Entrepreneurship Summit in 2023.
In addition, the closing ceremony included announcing the winners of the “Restoring Hope” challenge that ESCWA had launched at the beginning of the year.
The summit was inaugurated on Sunday, October 30 in the Jordanian capital, Amman, organized by ESCWA and in cooperation with the Jordan Enterprise Development Corporation ( JEDCO ) and other partners, and under the patronage of Jordan’s Crown Prince Al Hussein bin Abdullah II, and in the presence of the Jordanian Prime Minister, Dr. Bishr Al-Khasawneh, as his representative.
It was attended by about 650 participants including entrepreneurs, investors, business influencers, decision makers, economists, journalists, representatives of intergovernmental organizations, non-governmental organizations, and donors.
One of five United Nations regional commissions, ESCWA supports inclusive and sustainable economic and social development in Arab States, and works on enhancing regional integration.