The European Bank for Reconstruction and Development (EBRD) has opened its new office in Amman, as its cumulative investment in Jordan reached €2.468 billion through 91 projects since the bank began operations in the Kingdom in 2012. Its current project portfolio stood at €1.16 billion as of the end of August.
The new EBRD offices in Amman’s Abdali district were inaugurated in the presence of Minister of Planning and International Cooperation Zeina Toukan, EBRD Managing Director for the Southern and Eastern Mediterranean Mark Davis, and the bank’s Regional Director for the Eastern Mediterranean, Hashem Abdel Hakim.
The opening comes as the EBRD enters a new phase of operations in the Eastern Mediterranean. Earlier this month, Abdel Hakim assumed his position as regional director for the area, overseeing the bank’s operations in Jordan, Iraq, Lebanon, the West Bank and Gaza.
Speaking to Al Mamlaka on the sidelines of the opening, Abdel Hakim said the bank’s investments in Jordan this year are expected to remain strong, supported by a number of projects currently under implementation or preparation across various sectors.
He said the bank is currently working on several projects and expects to invest in around 10 projects during the current year, adding that it aims to double the scale of its operations and investments in Jordan next year.
National Water Carrier Project
Regarding Jordan’s National Water Carrier project, Abdel Hakim said the EBRD is part of the financing consortium supporting the project and is working toward completing the necessary procedures and signing the agreement at the appropriate time.
He added that the bank is also focusing on developing Jordan’s capital market and expanding its support for bond issuances beyond the banking sector, allowing companies and institutions across different parts of the private sector to access these financing instruments.
According to Abdel Hakim, bond issuances can provide companies and institutions with access to larger amounts of financing while also attracting financiers and investors from outside Jordan.
Green and Blue Bonds
On the bank’s support for green and blue bonds, Abdel Hakim said the EBRD had already worked on such instruments in Jordan and was seeking to move toward larger issuances and expand activity in the capital market.
He explained that green bonds are designed to channel raised funds into specific projects with environmental objectives, including renewable energy and energy-efficiency initiatives, with proceeds restricted to eligible areas.
Blue bonds, meanwhile, are linked to water- and marine-related projects, including water infrastructure and ports, following the same principle of allocating the proceeds to eligible projects under the relevant bond framework.
The EBRD began investing in Jordan in 2012. Its strategy for the Kingdom focuses on strengthening the role of the private sector, supporting the green transition and developing sustainable infrastructure, with the aim of contributing to a more competitive and resilient economy.
