DEAD SEA, JORDAN, May 10 (Xinhua) -- Jordan and the European Bank for Reconstruction and Development (EBRD) signed a 2.8 billion euros (3.34 billion U.S. dollars) memorandum of understanding (MoU) that entails the EBRD's participation in Jordan's infrastructure investment projects in several areas.
Under the deal, the EBRD confirms its interest in considering participation in Jordan's infrastructure investment programme, which the country is upgrading existing and developing new sustainable infrastructure.
The programme will cover multiple infrastructure sectors, including energy, transport, water and wastewater, solid waste, education and other municipal services.
EBRD will directly finance 1 billion euros (1.19 billion U.S. dollars) of these projects and help in attracting investors for the rest of the infrastructure projects in various areas, Jordanian Minister of Planning and International Cooperation Imad Fakhoury said Thursday on the signing ceremony.
The minister said EBRD in Jordan has been a true success story, which translated into concrete projects on the ground supporting key sectors in the country.
Since 2012, EBRD has committed more than 1 billion euros (1.19 billion U.S. dollars) for investments in various sectors; 85 percent are private sector operations mainly in sustainable and renewable energy in addition to sovereign and sub-sovereign financed operations, said Fakhoury.
EBRD President Chakrabarti commended collaboration with Jordan, stressing on the bank's support to the Kingdom.
