The EBRD to carry out projects worth 2.6 billion euros in the Kingdom

Dead Sea, Chief of the European Bank for Reconstruction and Development (EBRD) in Jordan, Haike Harmgart, said the bank will sign a memorandum of understanding (MoU) with the Jordanian government to implement projects worth 2.6 billion euros, as well as a funding for the Greater Amman Municipality (GAM) within the Green Cities Program.

In a press briefing on the sidelines of the EBRD’s annual meetings and the 2018 Business Forum held at the Dead Sea region, Harmgart said the bank’s future projects will focus on infrastructure, energy, schools and hospitals.

She pointed out the Jordanian private sector will be a key partner in implementation of these ventures.

On Jordan’s investor environment, she praised the partnership law between the public and private sectors, and referred to host of economic reform legislatures, which the government has submitted to the Lower House of Parliament for endorsement.

She said cooperation with the GAM stands at 22 million euros to improve the efficiency of waste management, of which is a 6-million euros grant from the British Agency for International Development, and noted the bank will offer a loan of 11 million euros without government guarantee to alleviate burden on the state’s public debt.

The bank will also sign MoUs with Oasis 500 to support start-ups, provide additional financing to SMEs through banks operating in the Kingdom, and sign another MoU to fund medical laboratories in the West Bank.

She said the most important success stories the bank has seen in Jordan are the renewable energy projects, which constitute half of the bank’s investments.

Source: Jordan News Agency