Jordan, July 3, 2018
European Investment Bank to finance projects in Jordan with 850 million euros

Vice President of the European Investment Bank (EIB) Dario Scannapieco, announced on Monday that the bank is preparing economic studies to finance 15 projects in Jordan with 850 million euros in the sectors of water, sanitation, public transport, renewable energy, small and medium enterprises and micro enterprises.

In remarks during the opening session of the 18th annual EIB conference in Amman to discuss the role of the bank in improving the living conditions in the southern Mediterranean countries, Scannapieco said that the bank has a long-term relationship with Jordan. The bank has provided 480 million euros for a large number of projects in the kingdom, he said.

He pointed out that the conference is scheduled to review the economic conditions in the countries of the southern Mediterranean region in addition to a number of successful projects, which were supported by the EIB to improve the living conditions and to find a better life.

Scannapieco added that the bank has adopted a special initiative to support small and medium-sized enterprises, with the aim of providing additional funding of six billion euros to the European Neighborhood countries until 2020.

The opening session was attended by Minister of Planning and International Cooperation Mary Kawar, Minister of Water in the Palestinian Authority Mazen Ghoneim, Central Bank Governor Ziad Fariz and a number of economic experts and figures.

Kawar stressed the need to build strategic partnerships between countries of the southern Mediterranean and international financial institutions to meet the challenges of unemployment. She also outlined the burdens Jordan shoulders as a result of hosting a large number of Syrian refugees.

Fariz, for his part, affirmed that facing challenges and achieving acceptable growth rates can create job opportunities to meet the challenge of unemployment, which is one of the most important goals of comprehensive and sustainable development. He called for exerting further efforts and launching creative initiatives to stimulate the economy and create small and medium-sized enterprises.

A wide range of participants from the Mediterranean countries of the EU and Jordan, including government officials, decision-makers, business leaders, representatives of banks, international and national organizations, companies, research centers, chambers of commerce and business associations are taking part in the conference, which is held under the theme: Improving Lives and Creating New Opportunities - The EU-Bank’s Economic Resilience Initiative.

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