She added that the EBRD works in partnership with the public and private sectors; the private sector accounts for about 75% of the bank’s business, while the public sector’s share of the bank’s plan is limited to about 25% with the government.
She explained that the EBRD is working on several projects with the Greater Amman Municipality, including waste management, energy, urban transport, electric buses, green lighting to help it become more energy efficient.
“One area that we also believe is really an opportunity for Jordan is supporting female entrepreneurs. We are working with Jordanian banks to support female entrepreneurs and businesses,” the EBRD official added. “Another area which we also touched upon this visit is digitalization by supporting their FinTech projects, including e-payments, e-wallets, etc. So that’s also an area where we will, throughout this year, do more projects and financial technology.”
Regarding business-doing in Jordan, Harmgart said that one of the key improvements was around reforming the banking sector regulation to make sure access credit becomes easier and the serious attempts to attract investment, which ensures easing conditions for new companies and new investors to register and obtain licenses.
In the energy sector, Harmgart said the EBRD have already done quite significant projects in the solar energy field in the first and second rounds, plus the financing with NEPCO on the transmission network. “However, desalination is the next biggest project, which addresses one of the key challenges for Jordan,” she added. “What we want to do there is really make sure that the energy that’s needed to desalinate water in Aqaba and pumping elsewhere is renewable energy, such as solar and wind rather than non-renewable sources.”
Source: Jordan News Agency