The President of the European Bank for Reconstruction and Development (EBRD), Sir Suma Chakrabarti, was received in Jordan today by  His Majesty King Abdullah and held discussions about the EBRD’s support for the economy of the Hashemite Kingdom.

The meeting with the King, and with Minister of Planning and International Cooperation Imad Fakhoury, who is the EBRD Governor for Jordan, also focussed on ways to improve the local investment climate and the importance of investment in technology and skills in  the country and in the development of innovative industries.

The EBRD President will take part in the World Economic Forum on the Middle East and North Africa at the Dead Sea tomorrow.

During the first day in Amman, Sir Suma also met representatives of the business community and some of the EBRD’s partners.

At a meeting at diversified industrial group GMS Holding with chairman Ghiath Sukhtian and executive Director Faisal Sukhtian, discussions focussed on the importance of supporting industries in new technology and helping Jordanian companies to expand beyond the southern and eastern Mediterranean region.

The EBRD President met Fawaz Zu'bi, the CEO of venture capital fund Silicon Badia, as well as with Managing Director Emile Cubeisy,  and discussed Jordan’s potential in the information technology sector, the importance of developing a new set of skills in Jordan  and how to improve the business environment and help local companies expand abroad.

Water was the highlight of the meeting with engineering group Engicon, with a focus on  how to reduce water losses and boost private sector participation in the industry. The EBRD teamed up with Engicon last year with a loan to modernise the Wala and Lib water pumping stations that serve the town of Madaba, south of Amman. Sir Suma visited this site today

The EBRD began investing in Jordan in 2012 and to date the has committed US$ 422 million across 22 projects in various sectors of the economy.