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EBRD looking at Jordan power investment

Bank set to invest $100m into Amman power site

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The EBRD will consider a $100m investment in the new power site. (GETTY IMAGES)
The EBRD will consider a $100m investment in the new power site. (GETTY IMAGES)

The First Vice President of the European Bank for Reconstruction and Development (EBRD), Varel Freeman, has completed a visit to Jordan to consider two investments in the country. During the trip, Freeman said that the EBRD’s board of directors would be asked to consider the Bank’s first two investments in the Kingdom – including a US $100 million investment in a power plant set to be built near Amman.

The Jordan Times has said that the total value of the project – located east of the capital – will be $360 million, as the Kingdom seeks to boost its electricity production capacity.

“Investing in the private sector, supporting the growth of small businesses and helping to create jobs is at the heart of our investment strategy for Jordan and the region,” Freeman said.

The Bank has said that investments in the SEMED region – covering Jordan, Tunisia, Morocco and Egypt – could be as much as $3.3 billion a year by 2015.

The EBRD will also consider a $30 million investment in the country’s InvestBank to create a finance facility aimed at helping the export and import transactions of its corporate clients.
 

 

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