Country strategy, framework top Rabadi meeting with EBRD official

AMMAN — Planning Minister Wissam Rabadi, the Governor of Jordan at the European Bank for Reconstruction and Development (EBRD), on Wednesday met Douglas Nevison, the EBRD director representing Canada, Jordan, Morocco and Tunisia, to discuss cooperation between the bank and Jordan.

The two sides discussed EBRD’s new strategy and framework for 2021-2025, according to a Planning Ministry statement. 

EBRD’s current work was also discussed, specifically regarding the new country strategy with Jordan for 2020-2025, according to the statement. 

The meeting touched on the annual meeting of the Board of Governors to be held in May in London.

The meeting also discussed holding an investment session for Jordan that focuses on an area that falls within the priorities of the bank’s work, as the session would promote Jordan as an attractive place for investments due to its strategic location, capabilities and opportunities, read the statement.

The minister thanked the bank for its continued support of Jordan through projects with the private and public sectors, in addition to the support provided to mitigate the ongoing effects of the Syrian crisis on the Kingdom, and hosting Syrian refugees, especially in solid waste, water and sanitation.

Jordan aspires for current and future cooperation with the bank in areas of mutual interest, as well as the technical assistance the bank provides for feasibility studies and preparation of projects, especially in the areas of renewable energy, electricity, transport, water and sanitation, the statement said. 

Rabadi also reviewed the challenges facing Jordan, the priorities that the government is currently working on and its focus on increasing the rate of growth, incentivising the economy, as well as maintaining economic stability at the macro level.

For his part, Nevison, stressed the bank’s commitment to support Jordan in facing difficulties, as well as providing easy financing.

Jordan joined the EBRD in 2011, and signed an agreement to establish a permanent representative office for the bank to manage its operations in Amman, which was opened in 2013.

The volume of the bank’s investment portfolio in Jordan reached more than 1.4 billion euros, concentrating on renewable energy sectors, pharmaceutical industries, information technology, water and sanitation, solid waste and microfinance and the development of small- and medium-sized enterprises.

The bank also supports the private sector, which accounts for more than 70 per cent of the bank's financing in Jordan, in addition to facilitating trade operations through Jordanian banks.