Ammon News - The European Bank for Reconstruction and Development (EBRD), the UK Government’s Foreign, Commonwealth and Development Office (FCDO) and the Jordan Investment Commission (JIC) are partnering to promote foreign direct investment (FDI) in Jordan as an indispensable source of development and growth, euneighbours reported.

The institutions are setting up an investment promotion project with the goal to attract investment from the Jordanian diaspora, investors based in the Gulf, the UK and other international markets. The partners will also support Jordan to position itself at key international events such as the Dubai Expo 2021-22.

The initiative by the EBRD and JIC, which is funded by the UK government, follows the 2019 London Conference, which was held to promote job creation and inclusive economic growth in Jordan. It comes under the framework of the EBRD Investment Climate and Governance Initiative (ICGI) that supports improvements in the investment climate and economic governance, unlocking economic potential, euneighbours stated.

Since the start of its operations in Jordan in 2012, the EBRD has provided more than €1.5 billion in financing for 59 projects, according to euneighbours.