EIB to Finance Projects worth EUR300m

تم نشره في Thu 6 April / Apr 2017. 12:00 AM
  • European Investment Bank (EIB) - (Archives)

AMMAN — The European Investment Bank (EIB) has approved a EUR300 million loan to finance private sector projects in Jordan, Lebanon, Egypt and Morocco.

According to an EIB statement on Thursday, EIB President Werner Hoyer said the loan is expected to support growth and sustain approximately 18 thousand jobs in those countries.

Hoyer was speaking at the EU ministerial conference on 'Supporting the Future of Syria and the Region', held in Brussels on 5 April 2017.

The loan comes under its Economic Resilience Initiative, a comprehensive plan to support countries in the Southern Neighbourhood and the Western Balkans.

The Economic Resilience Initiative, set up by the EIB at the request of the European Council, aims to make the economies in the Southern Neighbourhood and the Western Balkans resilient to future crises and shocks, such as those stemming from the current Syrian conflict, and it benefits both local populations and refugees.

The initiative focuses on infrastructure investments that improve people's daily lives and improve the overall business environment, as well as investments that promote private sector development and sustainable jobs.