House continues deliberations over Cities and Villages Development Bank

AMMAN — The Lower House on Wednesday continued deliberations over the amendments pertaining to the Cities and Villages Development Bank.

The lawmakers, during the session, approved the bill’s articles five and six, before Lower House Speaker Abdulkarim Al Dughmi adjourned the session due to lack of quorum. The bill transfers the powers from the Governorates Development Fund to the bank, which has been renamed the Local Development Bank.

The amendments also introduce changes to the bank’s board of directors to be headed by the Minister of Local Administration, with the membership of the ministry’s secretary general. Additionally, five members will  be appointed by the Minister, as well as representatives from the Ministries of Finance, Works and Planning, and the Central Bank of Jordan.