PM, EBRD head discuss cooperation

28-04-2020 10:40 AM

Ammon News - AMMONNEWS - Prime Minister Omar Razzaz Tuesday discussed with European Bank for Reconstruction and Development (EBRD) President Suma Chakrabarti aspects of cooperation with the European institution amid the novel coronavirus pandemic.

During the virtual meeting, in which Minister of Planning and International Cooperation Wissam Rabadi took part, the EBRD chief was updated on efforts taken by Jordan to contain the COVID-19 pandemic, as well as measures implemented in the various health, economic, social and other sectors.

Razzaz hailed the bank's support for Jordan as well as its diversified investments in priority sectors, mainly renewable energy, electricity, pharmaceutical, water, sanitation and solid waste projects, as well as development of small- and medium-sized enterprises and supporting the private sector.

He pointed to the importance of the emergency 'solidarity package' that the bank had launched to support countries of operations, including Jordan, and direct finances to the EBRD’s current and new customers, as well as sectors affected by the pandemic, including small- and medium-sized enterprises, which are among the key drivers of the national economy.

For his part, Chakrabarti commended Jordan's efforts to face the repercussions of the coronavirus pandemic.

He briefed the prime minister about the emergency solidarity package, which includes a €1 billion resilience framework, which was raised to four billion euros to secure liquidity in the form of lines of credit, a Trade Facilitation Program (TFP), a path to restructure existing finances for affected clients, reinforcing existing frameworks through which the bank offers support to quickly provide liquidity to the real economy, the emergency vital infrastructure support program for working capital and achieving stabilization and basic public investment.

These frameworks aim to empower companies and the bank's customers in the countries of operations, in addition to providing financing opportunities to assist Jordanian commercial banks in supporting trade facilitation operations as well as financing the activities of small- and medium-sized and micro enterprises, in order to face the ramifications of the coronavirus crisis.

Chakrabarti pledged that the EBRD will stand with Jordan and continue providing assistance to the Kingdom through the emergency solidarity package and the other windows available.

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