Jordan Times
Thursday, April 8, 1999
By Suha Ma'ayeh
AMMAN — The National Aid Fund has halted loans for income-generating projects until the results of a feasibility study to determine their effectiveness, officials said on Wednesday.
The NAF will conduct the study after gaining approval from the Prime Ministry, said NAF social researcher Abeer Wardat.
“Accordingly, the fund will decide to either continue or suspend these loans completely,” she told the Jordan Times.
Last year the fund extended loans worth JD2,360,818 to support 949 income-generating projects. In 1998, NAF also granted general loans amounting to JD36,949 for 75 projects. The loan amounts varied from a minimum of JD1,000 to a maximum of JD4,000.
NAF is currently undergoing a series of corrective and remedial measures as part of a three-year executive plan in an effort to upgrade its administrative system.
The fund offers large interest-free loans to families, groups of individuals, and charitable societies to start businesses, provided that the ventures include more than one manager and generate returns equal at least to the monthly amount of cash these groups receive.
Since its establishment in 1986, the NAF has been providing cash subsidies to 250,000 underprivileged Jordanians in 40,000 households.
NAF's assistance also includes disaster alleviation, physical rehabilitation, and vocational training.