Gov’t, EBRD Sign Infrastructural Development, Investment Climate MoUs

تم نشره في Thu 10 May / May 2018. 12:00 AM
  • Prime Minister Dr Hani Mulqi overseeing the signing ceremony of the MoUs between Minister of Planning and International Cooperation Emad Fakhouri and President of EBRD Soma Chakrabarty - (Petra)

DEAD SEA —AlGhad—Minister of Planning and International Cooperation Emad Fakhouri and President of the European Bank for Reconstruction and Development (EBRD), Soma Chakrabarty, signed two Memorandums of Understanding (MoU) today, Thursday, on sustainable infrastructural development cooperation and supporting the support the Investment Climate and Governance Initiative in Jordan.

The first MoU aims at laying the foundations for cooperation and development in sustainable infrastructure investments in Jordan. The Memo addresses a host of crucial priority sectors to finance implementation of private sector's projects and investments or fund public-private partnerships in key fields.

It involves the bank's participation in investment projects by providing long-term financing and (or) technical assistance funds for eligible projects in a total investment fund of EUR2.8 billion. EUR1 billion of which is an EBRD investment.

According, the goal is to stimulate economic growth in sustainable and renewable energy and electricity, urban transport, airports, ports, water desalination, expansion of water treatment plants, street lighting, green municipality buildings, and infrastructure for schools and hospitals.

Meanwhile, the second MoU is aimed at supporting the Investment Climate and Governance Initiative in Jordan in an effort to enable economic governance, improve private sector competitiveness and enhance the business environment.

It proposes cooperation with the bank to promote public-private dialogue, improve investment promotion and facilitation, promote corporate governance in the banking sectors, develop measures to facilitate SME participation in public e-tenders, forge alternative dispute resolution mechanisms, strengthen judicial capacity in commercial law matters and boost the regulatory framework in the ICT sector, to advance e-government services for civilians and corporations.

Prime Minister Dr Hani Mulqi attended the signing ceremony earlier today, during EBRD's annual meeting sessions in Jordan, held at the King Hussein Convention Centre in the Dead Sea.

The signing ceremony was held during a special working session on investment opportunities in Jordan, within the framework of the EBRD's meetings.

Minister Emad Fakhouri said: "We consider our cooperation with the bank to be a true success story given the remarkable growth in the bank's investment portfolio in Jordan.”

In the last five years (2012-2017), he said, EBRD’s investments in Jordan amounted to more than EUR1 billion, in the sectors of renewable energy, pharmaceuticals, water, sewage and solid waste, SMEs and the private sector, which accounts for over 85 per cent of the bank's support and financing operations in Jordan.

Fakhouri said the bank will allocate EUR100 million during the period 2016-2018 of its net income for investments in countries affected by the Syria crisis, including Jordan.

We are proud to be the first country in the Southern and Eastern Mediterranean region to host the Bank's annual meeting and events in response to Jordan's various reform and development efforts, as well as Jordan's outstanding reform performance in the various political and economic fields, he added.

The minister expressed his thanks to the bank for its continued support to Jordan, and said the country is looking forward to further future cooperation in new fields on the ground and for the benefit of Jordan's citizens, the private sector and investors.

He said the two sides signed two MoUs to develop a sustainable investment map based on a plan to stimulate economic growth and the public-private sectors' partnerships through which Jordan has managed to implement projects worth USD10 billion.