European Bank Plans to Boost Annual Investments in Jordan to $100mln Annually

Amman: First Vice President of the European Bank for Reconstruction and Development, Jurgen Rigterink, expressed on Wednesday the bank’s intent to increase its investments in Jordan to over $100 million annually, focusing on energy, water, renewable energy, and sustainable initiatives.

In an interview with the Jordan News Agency (Petra), Rigterinck stated that Jordan’s medium-term economic growth remains robust and steady despite regional challenges, thanks to the effective execution of economic modernization strategies and foreign direct investment attraction.

Rigterink’s visit to Amman aims to assess the bank’s operations in Jordan and explore potential areas for future support, emphasizing the bank’s commitment to assisting Jordan amidst regional hardships.

He highlighted discussions with Deputy Prime Minister for Economic Affairs, Nasser Shraideh, and Minister of Planning and International Cooperation, Zeina Touqan, regarding investments to bolster economic growth and employment opportunities.

ng the impact of the war on Gaza on Jordan’s economy, Rigterink anticipated some influence due to regional uncertainties but commended Jordan’s resilient economy, stable growth, and low inflation rates, attributing them to the dinar’s peg to the dollar.

Discussing the Green Star Project program, Rigterink underscored its goal of enhancing the competitiveness of Jordan’s small and medium-sized enterprises (SMEs) and promoting green initiatives, emphasizing the crucial role SMEs play in driving economic growth and job creation.

He reiterated the bank’s support for SMEs through banking facilities and green financing initiatives, underlining ongoing projects in the Aqaba Special Economic Zone to promote environmental sustainability, including an eco-friendly electric bus project and waste management initiatives.

Rigterink praised Jordan’s Economic Modernization Vision, launched last year, and legislative efforts, including investment laws and public-private sectors partnership law, for fostering growth.

He hi
ghlighted the bank’s focus on supporting private sector development and vital sectors like tourism, energy, water, and infrastructure, aligning with Jordan’s economic vision and Sustainable Development Goals.

Regarding the bank’s investments in Jordan, Rigterink noted significant contributions over the past decade, totaling 71 projects valued at 2.1 billion euros, with recent investments amounting to 62 million euros across five projects.

Jordan became a member of the bank in 2011, obtaining aid recipient status in 2013, with the bank maintaining a permanent office overseeing operations in Jordan, the West Bank, Gaza Strip, and Lebanon.

Source: Jordan News Agency