The President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso, said the bank began its investments in Jordan in 2012, and since then the total volume of its investments in the Kingdom has reached approximately €2.3 billion.
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In an interview with the Jordan News Agency (Petra) on Monday, Renaud-Basso said the results have been very positive thanks to close cooperation with the government. She noted that the bank provides financing and technical assistance, and works in coordination with government entities to implement reforms and identify key priorities.
She stressed the importance of holding regular meetings with officials to discuss these priorities, exchange observations, and obtain the necessary feedback to improve performance and enhance the effectiveness of programs.
Renaud-Basso pointed out that the bank is currently implementing a number of projects in the banking sector in cooperation with eight financial institutions, including major banks and microfinance institutions, with a particular focus on supporting women. The bank also provides dedicated credit lines to support small and medium-sized enterprises (SMEs), energy efficiency projects, and women’s empowerment programs in the business sector.
She explained that the bank is carrying out major projects in the renewable energy sector and is working with the government to launch a new wave of investments and finance strategic projects. In addition, it is participating in a key project aimed at developing and facilitating infrastructure in the city of Aqaba.
She added that the bank also works with private sector companies in the fields of digitalization, tourism, and municipalities, including transport projects, which have recently become a priority on the government’s agenda.
Regarding new sectors, Renaud-Basso said that water and wastewater management will remain among the top priorities. She noted that the bank is exploring additional projects in the transport sector, such as railways, as well as public-private partnership (PPP) projects for hospitals and schools, with the aim of engaging investors and the private sector in improving services provided to citizens.
On the volume of financing, she said the bank reinvested €200 million last year across 10 projects, describing this as a significant level of investment.
She added that the expected amount for this year depends on the projects presented, including major initiatives such as the water conveyance project, which requires high levels of investment. She emphasized that the bank’s goal is to maintain an average investment rate of €200 million annually.
Renaud-Basso noted that it is difficult to measure the direct impact of the partnership with the bank on economic growth and job creation, as each project is implemented separately, such as those aimed at improving access to electricity, energy, and transport, and creating employment opportunities.
She said that around 77% of the bank’s projects are in the private sector, targeting financial institutions, large companies, and energy sector reforms. These efforts contribute to enhancing competitiveness, creating jobs, increasing export capacity, and developing tourism, among other benefits.
Regarding the regional economy and growth prospects, Renaud-Basso emphasized that lifting sanctions on Syria would have significant positive effects, particularly given Jordan’s geographic proximity, which represents an important advantage amid strong private sector interest in investment and participation in reconstruction efforts.
She concluded by noting that Jordan has demonstrated remarkable economic resilience by achieving strong growth rates over the past year, and is expected to continue to record higher growth this year, supported by financial sector stability and controlled inflation, reinforcing the Kingdom’s position as an attractive hub for investment. (Petra)
