The Islamic Corporation for the Development of the Private Sector (ICD) extends USD 20 million Islamic financing to expand Jordan’s non-woven fabrics industry

The financing will enable API to acquire cutting-edge Spunlace technology, enhancing production efficiency and product diversification

• USD 20 million medium-term Islamic finance facility to expand non-woven fabrics production capacity through advanced Spunlace equipment.
• API is Jordan's leading non-woven fabrics manufacturer, producing essential materials for personal hygiene products, healthcare PPE including gowns and face masks, and agricultural applications.
• The expansion aims to create substantial employment opportunities, strengthening Jordan's industrial competitiveness and economic diversification.
• Supports UN SDGs including Decent Work and Economic Growth, Industry and Innovation, and Partnerships for the Goals.

The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IsDB) Group, has recently extended USD 20 million medium-term Islamic finance facility to Applied Plastic Industries Company (API), the leading manufacturer of non-woven fabrics in Jordan.

The facility will finance capital expenditure for advanced Spunlace equipment, enabling API to establish a new production line and expand its manufacturing capacity.