Founded in Paris in 1920, Gide is a leading international law firm with 12 offices spread throughout the world.
Gide is physically present in six regions of the world, with 11 offices, enabling it to act on cases globally.
10 November 2021
Deals | United Kingdom | Banking & Finance
Gide has advised Proparco, the subsidiary of the Agence Française de Développement group dedicated to the private sector, as lead financial institution in relation to the setting-up of a USD 75 million loan facility to Capital Bank of Jordan.
The loan by Proparco (up to USD 50 million) and DEG (up to USD 25 million) will help Capital Bank of Jordan to finance and develop its SMEs portfolio with a special focus on women-led business, start-ups and FinTechs, youth-owned businesses and SME located outside the capital, Amman. The objective is to support the bank to finance those segments that have difficulty accessing classic financial services but are considered very impactful for the economic development.
The project is expected to improve access to financing for more than 400 SMEs, with a special focus to finance women owned/led business; as such, the project qualifies to the 2X Challenge, a multilateral initiative that aims to support projects that empower women as entrepreneurs, business leaders, employees and consumers of products and services and increase their participation in the economy. In addition, the project will maintain close to 9700 jobs in the SMEs financed through the loan.
Established in 1995 as a corporate bank with a focus on export and trade finance, Capital Bank of Jordan has operated a strategic reorientation towards SME financing and a good client proximity through digital channels and well-designed digital products and services. With its strong commitment towards the SME sector and an elaborated set of products and services, the bank aims to become the leading SME bank in the country.
The Gide team was led by counsel Samir Bensaker and associate Rosalie Johnstone.
