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27 August 12:00 AM

EBRD, its partners to invest 2.6 bn euros in Jordan

The European Bank for Reconstruction and Development announced that the bank and its partners plan to ink agreements to invest 2.6 billion euros in Jordan in the coming period.
 
Heike Harmgart, the Director of the Eastern Mediterranean Region at EBRD, made the remark during a press conference with Jordanian Minister of Planning and International Cooperation Emad Fakhouri to announce the activities of  EBRD 2018 Annual Meeting and Business Forum due to be held in Jordan's Dead Sea on May 9.

The bank will strongly support Jordan as it plans to sign a number of investment agreements and will draw up an investment roadmap, including new projects in the fields of energy and infrastructure, she said.

Harmgart said the bank's share of the expected 2.6 billion euro investments stands at one billion euro.
 
She said the bank's work with Jordan is a long story of success as the bank invested 1 billion euros in about 40 projects in six years.
 
The bank has also supported 40 small and medium sized projects through offering consultancy services.

She said Jordan will be a key center for the bank's expansions in the Eastern Mediterranean region.

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.


Meanwhile, Fakhoury 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 - the first Arab country to host the event.
 

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