Planning Ministry, EBRD sign agreement to support public-private partnership projects

AMMAN — The Ministry of Planning and International Cooperation and the European Bank for Reconstruction and Development (EBRD) on Thursday signed a memorandum of understanding to provide technical support to develop partnership projects between the public and private sectors.

The memo entails providing assistance to conduct preliminary feasibility studies and specialised advisory services for partnership projects, according to a Planning Ministry statement. 

Minister of Planning and International Cooperation Nasser Shraideh and regional head of the Eastern Mediterranean region Philip ter Woort signed the agreement. 

Shraideh highlighted the importance and timing of the agreement that is in line with the developments pertaining to the legal and institutional frameworks of public-private sector partnership.

In this regard, the minister referred to the priorities of the government action programme that focuses on economic recovery through stimulating the private sector to create more jobs for Jordanians, mainly women and youth, supporting most affected sectors by the pandemic, and improving the coverage of the national social protection programmes. 

He noted that the government action programme included an important component related to major projects and public-private partnership, which are envisioned to stimulate investment and growth in priority sectors, such as transport and infrastructure, including water, renewable energy and schools. 

Shraideh also commended the continuous support of the EBRD and the contribution of its investment in the development process in the Kingdom, highlighting its importance for the bank to continue its activities in Jordan and response to economic challenges the Kingdom is facing through providing soft loans and flexible financing tools.

Ter Woort said that public-private partnerships are important stimulators for the economic development in Jordan, which, in return, will contribute to providing jobs, adding that these partnerships will also play a role in developing joint projects according to the best international practices.