At a conference in Amman on Wednesday 28th March, the European Commission presented its ambitious External Investment Plan (EIP), which is designed to boost investments and support more inclusive and sustainable development in the European Neighbourhood and Africa. Opening remarks were given by Commissioner Johannes Hahn, the Head of the EU Delegation in Jordan, Andrea Matteo Fontana, and Imad N Fakhoury, Minister of Planning and International Cooperation. The Director for the Neighbourhood South in DG NEAR, Michael Koehler gave a keynote presentation on the main features and innovations of the EIP.
Commissioner Hahn said: "The EIP allows us to leverage significant private investment into key sectors of the economy, reduce risks, and address market failures. It can empower local entrepreneurs and create decent jobs in Jordan. This new and innovative approach will help us to carry out sustainable development projects which otherwise may not be possible or would be significantly smaller.” The conference brought together national authorities, business communities, private sector companies, partner International Financial Institutions (IFIs) and other stakeholders. They discussed the investment opportunities, financing barriers and potential in some of the specific priority sectors covered under the EIP, including Sustainable Cities and Micro, Medium, and Small enterprises sectors in Jordan.
The EIP's goal is to mobilise, by 2020, EUR 44 billion in private and public investment for sustainable development, creating new businesses and decent jobs. By combining existing and well-established EU blending facilities with a new, additional guarantee and putting them under one coherent framework this creates a “one-stop shop” for public and private investors. This will allow partners to find swiftly the most appropriate funding and ensure that projects are implemented which create jobs and contribute to sustainable development.
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