Fakhoury: Jordan turns challenges into real opportunities

[26-06-2016 09:23 AM]

Ammon News - AMMONNEWS - The minister, who is the Governor of Jordan at the AIIB, spoke about regional turmoil, particularly the Syrian crisis and its ramifications on Jordan's investment and, exports and tourism.

"We are a country that has been greatly affected by recent regional crises impacting growth, exports and investment levels as well as tourism. The Syrian crisis is now in its sixth year; most tragic humanitarian crisis of our time. Jordan has been facing a slow-motion Tsunami over the past years, which resulted in growing needs, regressing hard-earned development gains, increased public debt, and is impacting the country’s sustainable development path. Jordan has also assumed a heavy burden due to hosting of about 1.3 million Syrian refugees and has been carrying out a global public good, Fakhoury explained.

Jordan continued to shoulder its commitments toward refugees, However, the current levels of support provided by the international community are still not enough to meet urgent needs of refugees and host communities alike, the minister noted.

"The Kingdom's response plans at best are one third funded", he said, indicating that for the fifth consecutive year, two thirds of needs at a minimum remain unfunded.

On the sidelines of the meeting, Fakhoury held bilateral meetings with the President of the Asian Infrastructure Investment ( AIIB) Jin Liqun and AIIB vice president Danny Alexander and discussed with them means to implement projects in partnership between the public and private sectors.

The minister also met with Deputy President of the Saudi Development Fund (SDF) Yousef bin Ibrahim Al-Bassam, Deputy Saudi Finance Minister Hamad Al Bazei and Director General of the Abu Dhabi Development Fund Mohammad Al Sweidi.

Fakhoury hailed efforts of Saudi Arabia and the UAE to support the Kingdom through financing various projects.

The two sides discussed development cooperation between the two countries.

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