AMMAN — The Asian Infrastructure Investment Bank’s
(AIIB) board of directors has approved a $250-million investment in Jordan to
accelerate economic recovery from the COVID-19 pandemic, according to the
Jordan News Agency, Petra.
اضافة اعلان
In a statement released Wednesday, the bank said that its
first loan to Jordan is expected to create more jobs by capitalizing on the
economy’s potential, especially its green growth opportunities.
According to recent national statistics, Jordan’s real GDP
contracted by around 1.6 percent in 2020 due to the pandemic.
Unemployment soared to 24.7 percent and poverty increased by an estimated 40 percent in the
earliest stage of the health crisis.
Totaling $1.2 billion and co-financed with the World Bank,
the Inclusive, Transparent, and Climate Responsive Investments
Program-for-Results (PforR) project supports Jordan’s ongoing reforms initiated
under the Five-Year Reform Matrix.
The reforms are aimed at strengthening
systems to deliver well-targeted public investments, including public-private
partnerships and addressing major challenges to the country’s competitiveness.
In both cases, the program supports the greening of investments.
"Investing in green infrastructure creates jobs and
economic value," said Konstantin Limitovskiy, AIIB vice president of
investment operations.
"Jordan has been one of the most active countries
in the region in adopting international climate change initiatives, including
the Paris Agreement. Our support will assist the government’s drive toward a
greener, more climate responsive and more competitive economy."
In August, AIIB held a high-level roundtable with Jordanian
public and private sector officials to discuss investment strategies to support
the growth of the country’s transport sector.
The discussion was part of the
AIIB’s ongoing engagement with its non-regional members in the Middle East and
North Africa region as it prepares for its annual meeting in October hosted by
the United Arab Emirates, Petra reported.
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