Kingdom to host annual EBRD meeting

AMMAN — Planning and International Cooperation Minister Imad Fakhoury participated in the 26th Annual Meeting of the Governors of the European Bank for Reconstruction and Development (EBRD), as Jordan’s governor at the bank, held in Nicosia, Cyprus, according to a statement from the Planning Ministry on Saturday.

Fakhoury highlighted the importance of Jordan’s participation in the meeting as a member and a recipient of the bank’s investments and assistance, during the EBRD conference held between May 9 and 11. 

During the meeting, the governors discussed issues related to the bank’s performance and achievements and the adoption of relevant decisions, especially on the bank’s financial reports and budget, the statement said. 

The governors also reviewed the the strategic operational plan of the strategic and capital framework of the Bank for the years 2016-2020 and the expected targets for the period 2017-2019.

Fakhoury added that during the meeting it was announced that Jordan will host the 2018 annual meeting of the Board of Governors of the EBRD  and the Business Forum in Jordan in May 2018, with the participation of 70 countries, making Jordan the first country in the region to host these events. 

The Council of Governors adopted an extraordinary decision to allocate an additional 50 million euros in grants to support countries affected by the Syrian crisis, including Jordan, according to the statement.

In the past year, Jordan benefited from the bank’s support of 30 million euros for host countries in response to the Syrian crisis, including Jordan. 

In the presence of Fakhoury, a $4.5 million loan agreement was signed with  Greater Amman Municipality from the EBRD to establish a fifth solid waste cell in Al Ghabawi landfill.

The minister said that Jordan has witnessed another “remarkable” year of cooperation through new projects worth around 400 million euros,  according to the statement.