Amman, Feb. 3 (Petra) – The King Abdullah II Fund for Development announced on Tuesday the signing of support agreements with 12 entrepreneurial projects under the Riyada program, paving the way for their implementation across the Kingdom’s governorates.
The agreements were signed by the fund’s Director General Samer Mufleh and the project owners. Under the agreements, the fund will provide financial and technical support to the selected projects as part of its efforts to advance entrepreneurship and innovation in line with the Economic Modernization Vision.
The fund said the Riyada program is among its flagship initiatives aimed at supporting productive entrepreneurial projects in the governorates. The program seeks to empower entrepreneurs to translate innovative ideas into sustainable, scalable ventures capable of generating employment opportunities and delivering measurable economic and social impact, in line with the Vision’s growth drivers.
The supported projects span three key sectors, including environment, agriculture and food, technology and the Fourth Industrial Revolution, and tourism and services, reflecting sectoral diversity and promoting cross-sector integration.
The fund said the selected projects address a wide range of fields. In Karak Governorate, support was extended to a digital agricultural project aimed at establishing a smart farm for export-oriented production. In Zarqa Governorate, an innovative project was selected to convert carbon dioxide emissions from factories into solid organic fertilizer, while in Ajloun Governorate, a project will establish an adventure sports facility to promote adventure tourism.
Applications underwent a multi-stage evaluation process, including administrative screening and technical assessment through an electronic application and evaluation system, conducted by specialized external advisory committees. Sixty projects, 20 from each sector, advanced to the interview stage, with field visits carried out for selected existing projects to ensure transparency, equal opportunity and standardized evaluation criteria.
The fund said the program is expected to result in operational income-generating companies by the end of its implementation, contributing to job creation for young entrepreneurs in the governorates, supporting the national economy and delivering tangible economic and social outcomes.
//Petra// AJ
