Brussels, 02/10/2012 (Agence Europe) - On 30 September, the European Bank for Reconstruction and Development (EBRD) signed an agreement with InvestBank, for investment in Jordan totalling US$30 million over three years. This first investment in the Kingdom of Jordan opens the way to action by the EBRD authorised by the EU in the context of support for four countries of the southern Mediterranean rim (Morocco, Tunisia, Egypt and Jordan) in which the EBRD gradually forms business relations with local financial institutions in order to successfully carry out the mission entrusted to it.
Investment will take the form of a credit line to be managed by InvestBank and will help businesses in Jordan to become more broadly involved in international trade and to fully take advantage of the market opening, scheduled as part of cooperation with the EU.
By way of the investment agreement, according to an EBRD press release, the EBRD will issue guarantees for international trade transactions conducted by the Jordanian bank. (FB/transl.jl)