King Abdullah II Fund for Development KAFD in Jordan would launch an ICT fund in two months to seed start-ups in the country. Called Oasis 500, the fund aims to provide an initial capital of between $50,000 and $100,000 to 500 startups. The seed investors include three major technology names that could not be disclosed at this stage. KAFD was established by a Royal Decree in 2001 as a non-governmental organisation to provide all segments of the Jordanian community, particularly the underprivileged, with loans.
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