Ammon News - AMMAN (Petra) The European Bank for Reconstruction and Development ( EBRD) is planning to provide Jordan's private sector with $300 million annual aid to finance investment projects, mainly small and medium enterprises (SMEs).

At a meeting with Chairman of Jordan Businessmen Association Hamdi Tabba, Principal Banker at the EBRD Gary Mclean said the energy and water sectors will be top priority for the bank, noting the bank's readiness to offer Islamic and traditional loans.

The bank, he added, has allocated $2.5-billion investment fund for 4 regional countries, namely Jordan, Egypt, Tunisia and Morocco.

Tabba hailed the bank for opening a representative office in Amman after Jordan was admitted a member of the bank in December 2011. Stability and security have made the Kingdom a safe heaven and an investment magnet in a region which suffers unrest and turmoil, Tabba noted.

Jordan, he said, has qualified human resources and infrastructure needed for investment projects, noting the strong banking sector in the Kingdom and the sound monetary policy of the Kingdom.