Holding EBRD meeting in Jordan reflects int’l acknowledgement of Kingdom’s economic reform — Fakhoury

AMMAN — Planning and International Cooperation Minister Imad Fakhoury on Friday commended the outcomes of the European Bank for Reconstruction and Development’s (EBRD) 27th annual meeting, which has recently concluded at the Dead Sea and witnessed the signing of several agreements. 

Fakhoury highlighted the importance of holding the EBRD meeting in Jordan for the first time, which was also the first for the Arab region, considering it a “success story” for the Kingdom that reflects the bank board’s support for Jordan, the Jordan News Agency, Petra, reported. 

The minister’s remarks came during an interview with Jordan TV’s 60 Minutes, where he also said that “Jordan’s joining of the EBRD member countries reflects an international acknowledgement of the Kingdom’s economic reform programme and opens doors for attracting funds and obtaining technical aid and consultations”.

He also said that the European bank focuses on supporting and funding the private sector in order to stimulate economic growth and generate more job opportunities. 

Fakhoury also said that Jordan signed several agreements and drew an investment map with the European bank to start the execution of the infrastructure projects listed in the economic growth plan, noting that a funding agreement worth 2.8 billion euros was signed and the projects will be executed by private sector companies, the municipalities, in addition to partnerships between both. 

He added that the Greater Amman Municipality signed two financing agreements, each worth 21 million euro, one for improving the solid waste operations, and the second to expand the sanitation projects in Irbid.

Fakhoury noted that EBRD’s investments in Jordan amounted to 1 billion euros, in addition to providing the Jordanian banks with funding windows amounting to 300 million euros. 

EBRD supports small and medium enterprises and provides funding windows for several projects including infrastructure, water, renewable energy in addition to assisting various sectors and companies, according to Fakhoury, who praised the bank for the expansion of its activities in the Arab region, particularly the southern and eastern Mediterranean region.

EBRD President Suma Chakrabarti described the bank’s work in the Kingdom as “an amazing success story”, the Jordan News Agency, Petra, reported.