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EU-Jordan Investment Platform launched at Dead Sea meeting

Platform expected to leverage up to 2.5 billion euros in investments

By Batool Ghaith - Jun 02,2022 - Last updated at Jun 03,2022

European Commissioner for Neighbourhood and Enlargement Oliver Varhelyi speaks during a press conference during the 14th session of the EU-Jordan Association Council held at the Dead Sea on Thursday (Petra photo)

DEAD SEA — European Commissioner for Neighbourhood and Enlargement Oliver Varhelyi on Thursday announced the launch of the EU-Jordan Investment Platform during the 14th session of the EU-Jordan Association Council held at the Dead Sea.

Varhelyi met Minister of Planning and International Cooperation Nasser Sharideh, who together launched the EU-Jordan Investment Platform, which is expected to leverage up to 2.5 billion euros of public and private investments.

“The platform will act as a catalyst for public and private investments, helping Jordan exploit its full investment potential. The platform will bring to life flagship projects agreed with Jordan in the EU Economic and Investment Plan,” Várhelyi said during the press conference.

Várhelyi emphasised that the EU and Jordan enjoy “rock-solid and strategic relations”, highlighting the efforts to further advance cooperation with the Kingdom.

"We have been working on several fronts to support Jordan's anti-COVID efforts,” he continued.

Varhelyi highlighted Jordan's role in maintaining regional stability, noting that Jordan is a "key political and economic partner for the EU”.

“It is a very strong political signal to have the association council at Jordan for the first time, we have signed the new EU-Jordan policy which is the token of engagement for what is coming,” he added.

The multi-annual assistance package of 364 million euros until 2024 will support Jordan’s reform plans in multiple sectors such as good governance, rule of law, promotion of green and digital transition and how to create a resilient economy, according to Várhelyi.

He also announced that there has been additional support packages from the EU for Jordan, including 25 million euros, which will be disbursed as aid to Jordan in the next few days for food security and to mitigate the rising prices of food and energy, as well as 24 million euros for social protection for vulnerable families in Jordan.

He also indicated that the Aqaba-Amman Water Desalination project (The National Water Carrier Project) is “the key potential project to address the water scarcity issue”.

Várhelyi confirmed the EU’s first contribution for the project, 50 million euros, noting that the project will create “more resilient agriculture in the region which is much needed”, he added.

 

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