The European Bank for Reconstruction and Development (EBRD) has invested more than 500 million euros in Jordan between 2020 and 2024, according to its draft new country strategy for Jordan for the period 2025-2030.
اضافة اعلانAccording to the draft, which was highlighted by "Al-Mamlaka," the bank stated that these investments were part of 49 operations carried out in Jordan, one of the first countries in the Southern and Eastern Mediterranean region where the bank operates. The bank emphasized that these investments have contributed to enhancing Jordan's sustainable market economy, which is a leader in the use of renewable energy and maintaining regional stability.
Thanks to these investments, Jordan has made significant progress in addressing economic and social challenges, including major external shocks such as the influx of Syrian refugees, the COVID-19 pandemic, and the energy crisis.
Despite these achievements, the bank noted that Jordan still faces significant challenges, such as high unemployment rates, low productivity, regional instability, and economic exclusion gaps, particularly among women and youth in recent times.
The government has launched several initiatives to address these challenges, including the 2022 Economic Modernization Vision priority plan and the 2023 Public Sector Modernization Roadmap. Meanwhile, the Central Bank of Jordan launched the Green Inclusion Strategy in 2023, aimed at enhancing the green economy and increasing investments in this sector.
The bank also highlighted its success in investing in the Kingdom since it began operations in 2012, with total investments surpassing 2.3 billion euros through more than 70 projects. The current investment portfolio in Jordan is valued at 1.047 billion euros, with approximately 768 million euros in operational assets, with the private sector accounting for about 60% of the total.
One of the key lessons learned from this period, according to the bank, is the importance of strengthening technical cooperation and capacity building, with a focus on early participation in procurement to deliver projects on time. The experience also underscored the importance of public-private partnerships, particularly in large-scale projects like the water desalination and transport project between Aqaba and Amman.
Despite the progress made, the bank noted that Jordan needs to enhance its capabilities in areas such as institutional governance, increasing foreign direct investments, and improving the business environment. Water and renewable energy challenges remain priorities that require further attention.
By 2030, the bank aims to achieve a set of key goals, including enhancing private sector competitiveness, expanding funding sources, improving the business environment, and increasing both local and foreign investments. The strategy also aims to expand the use of renewable energy, reduce carbon emissions, and strengthen the resilience of the energy sector in the face of climate change, alongside improving the management and efficiency of the water sector in addressing crises.
The strategy also focuses on improving municipal and service infrastructure, enhancing employability skills, and increasing women's participation in the economy.
