EU development bank due in Jordan next week

Published March 14th, 2013 - 07:02 GMT
The head of the EBRD will visit Jordan next week
The head of the EBRD will visit Jordan next week

President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti will pay a visit to the Kingdom next week.

He is scheduled to meet with Prime Minister Abdullah Ensour to discuss means to further cooperation between the country and the bank, the Jordan News Agency, Petra, reported.  

Chakrabarti will also meet with Minister of Planning and International Cooperation Jafar Hassan and Minister of Energy and Mineral Resources and Minister of Transport Alaa Batayneh. In addition, he will also hold talks with Central Bank of Jordan Governor Ziad Fariz and several business sector representatives. 

The government and the EBRD signed an agreement in February, under which the bank officially launched its operations in Jordan by opening a permanent office in Amman.

Through its office, the European bank will be able to invest in key sectors such as energy, railways, and finance and development projects in governorates and support private companies, with a focus on small- and medium-sized enterprises, besides helping to mitigate the problem of unemployment. 

Up to the end of 2015, the EBRD is expected to invest around 2.5 billion euros in north and east Mediterranean countries that include Egypt, Tunisia and Morocco, besides Jordan. 

Late last year, the EBRD offered a $100 million loan for the construction and development of the Manakher Power Plant, some 15 kilometres east of Amman

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