EBRD announces 2.6 euro investment in Jordan

Amman, The European Bank for Reconstruction and Development (EBRD) is planning to sign agreements with Jordan worth 2.6 billion euros for the next 3-5 years, the bank’s Eastern Mediterranean region director, Haike Harmgart, announced on Thursday.

This came during a joint press conference held by Harmgart and Minister of Planning and International Cooperation Emad Fakhoury, during which he announced activities of the EBRD’s annual meeting and its business forum, hosted by Jordan from 8 to 10 May, under Royal patronage and with participation of around 2500 business leaders and academics.

The bank and, during its annual meeting, will sign “some investments” agreements with Jordan worth 2.6 billion euros over the next three to five years, Harmgart said.

Harmgart said the bank’s share of the expected investments stands at one billion euro.

She stressed the importance of the bank’s annual meeting, which will be held in Jordan for the first time, and will discuss the issue of the investment opportunities and the investment climate in the Kingdom.

Fakhoury, for his part, said the investment portfolio of the bank in Jordan during 2012-2017 amounted to one billion euros, through which 38 projects in the fields of renewable energy, pharmaceuticals and water industries were supported and 88% of the investments went to the private sector.

The minister said the annual meeting, scheduled to be held under the theme “Revitalizing the Economy” at the King Hussein Convention Center at the Dead Sea area, provides an opportunity to discuss global challenges, foremost of which is supporting economic growth, combating climate change and boosting the business environment in the areas where the Bank invests.

He described the bank’s meeting as a unique event as it brings some 2,500 people representing governments, businessmen, policy makers, academics and opinion leaders together, the first-of-its-kind to be held in Jordan as a country of the Bank’s operations area in southern and eastern Mediterranean region and the first Arab country to hold the event.

Source: Jordan News Agency