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Planning minister meets with EBRD vice president for policy

Planning Minister Zeina Toukan on Thursday met with Vice President of the European Bank for Reconstruction and Development (EBRD) for Policy and Partnerships Mark Bowman, who is on an official visit to Amman. 

The visit aims to discuss economic opportunities and priorities to identify needed support for the bank in Jordan, within the Economic Modernisation Vision and its executive plan 2023-2025, as well as the public sector development roadmap, the Jordan News Agency, Petra reported.

During the meeting, Toukan briefed Bowman on the Economic Modernisation Vision and the most prominent features of the executive plan. 

Toukan described the bank as a development partner vital for helping Jordan materialise the Economic Modernisation Vision by providing concessional financing for development projects.

She also highlighted the importance of supporting the private sector, including implementing partnership projects between the public and private sectors within the framework of the Economic Modernisation Vision and aiding important sectors such as high-value industries, tourism, urban development, energy and investment.

The two sides discussed bolstering cooperation and setting the bank's priorities for the next phase, especially in the areas of water and sanitation, energy, transport, municipal infrastructure, the national water carrier and green economy projects.

Toukan extended appreciation to EBRD’s contribution to investments as well as financing the Kingdom's developmental projects amid economic challenges Jordan is facing due to the repercussions of regional and global crises, including hosting Syrian refugees.

The minister stressed the importance of the bank sustaining its support by providing soft financing and investment grants, expressing the Jordanian government's aspiration for more cooperation and partnership with the bank.

Bowman voiced EBRD’s keenness to support Jordan in its transition to an inclusive, competitive and sustainable economy, highlighting the strong partnership binding the bank and the Jordanian government.

Bowman also commended Jordan’s pivotal role in promoting green investments and increasing job opportunities in various sectors. 

Jordan joined the EBRD in December 2011, obtaining status of an aid-receiving country in 2013.

The EBRD has a permanent office to manage its operations in the Kingdom, the West Bank, Gaza Strip and Lebanon. 

Since 2012, the bank has provided 1.2 billion euros to support projects related to renewable energy, pharmaceuticals, water and sanitation, environmental infrastructure, solid waste, transport, tourism, banking small and medium enterprises.

More than 58 per cent of the bank's financing targets the private sector. 

Since the beginning of 2023, the two sides have signed a soft financing agreement to fund a project to expand and rehabilitate a wastewater treatment plant in Ain Ghazal at a value of $11.8 million as well as expand and rehabilitate Al Shair plant in cooperation with the Greater Amman Municipality standing at a value of $2.8 million. 

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