- EUR 870 million expected financing during 2019-2020 for infrastructure and private sector.
- “Deir Alla Water Supply and Sanitation” project to receive EUR 65 million financing, serving 85,000 people
- EIB opens Amman office to strengthen relations with partners.
The European Investment Bank (EIB) plans to extend EUR 870 million of loans and grants during 2019-2020 to support infrastructure and the development of the private sector as part of its contribution to the EU’s support for Jordan. The President of the EU Bank, Werner Hoyer, announced EIB’s plans in London today alongside EU and world leaders during the “Jordan: Growth & Opportunity – The London Initiative 2019” conference co-hosted by the government of Hashemite Kingdom of Jordan and the United Kingdom government.
At the conference, the Jordanian government and the EIB signed a loan agreement of EUR 65 million to finance the improvement of water supply systems in the “Deir Alla and Al-Karamah” districts in the Jordan valley, as well as the construction of a centralised sewage collection and treatment network in Deir Alla district. The EIB’s support is part of EIB’s Economic Resilience Initiative (ERI) designed to strengthen the EU Southern Neighbouring countries’ ability to withstand shocks. The project will benefit from an additional investment grant of EUR 16.3 million from the Economic Resilience Initiative Fund (ERIF). The EIB’s finance will improve water supply and sanitation services for more than 85,000 people in the Jordan Valley and will have a positive impact on agriculture, environment, and tourism in the Jordan Valley region.