European Investment Bank 

The European Investment Bank (EIB) was established in 1958 under the Treaty of Rome, it then became the long-term financing institution of the European Union. The task of the Bank is to contribute to the EU’s policy objectives by financing sound investments. Although the EIB’s activities are concentrated mainly within the European Union, it also makes significant amounts available in favor of the Mediterranean Partner Countries, including Jordan, within the context of the policy guidelines set out in the Barcelona Declaration of 1995.

The European Investment Bank’s Facility Euro-Mediterranean Investment and Partnership (FEMIP), allows Euromed Partnership countries access to the range of services provided by the EIB, to assist their economic development. Established in 2002, FEMIP essentially offers three types of product: loans; private equity; and technical assistance.

Moreover, the FEMIP Trust Fund (FTF) is a multi-donor, multi-purpose and multi-sector fund that supports private sector development in the Euromed Partnership countries, either through technical assistance or private sector support. 

The FEMIP Support Fund, utilizes European Commission grant aid made available to support EIB investment activities in the Euromed Partnership countries, by providing technical assistance to promoters during different stages of the project cycle. The forms of technical assistance provided are; feasibility or pre-feasibility studies for investment projects relating to the private sector, water and wastewater, the environment, transport and telecoms, education and health; Project Management Units (PMUs) to assist implementation, and site visits to assess the projects being financed.

 

Soft Loans

Since 1999, the EIB has provided more than Euro 476 million to Jordan to support projects in the industry, mining, energy, education, water and transport sectors, as well as contributing to the development of the private sector. The following table shows the sectorial breakdown of EIB loan operations in Jordan during the period (1999-2010):

 

Sector

Project Name

Date of signature

Signed amount

Industry

Eshidiya Phosphate Mines Expansion

10/05/1999

30,000,000

Industry

Kemira Arab Potash Company

22/09/1999

30,000,000

Industry

Jordan Bromine Company

30/10/1999

20,000,000

Industry

Eshidiya Phosphate Mines Expansion

24/05/2000

30,000,000

Industry

Jordan Bromine Company

14/06/2000

30,000,000

Credit lines

Private Sector Support Operation

30/09/2000

6,000,000

Credit lines

Private Sector Support Operation

22/12/2000

3,800,000

Education

Jordan Education

17/07/2003

39,731,591

Transports

Amman Ring Road

22/12/2003

26,165,168

Energy

Regional Gas Pipeline

05/06/2004

100,000,000

Credit lines

HBTF GLOBAL LOAN

23/12/2007

50,000,000

Transports

Amman Ring Road

25/11/2008

36,918,138

Water

South North Water Conveyor

17/05/2009

73,670,252

Total Amount

476,285,149

 

 

 

Technical Assistance

 

In addition, the EIB also has provided Jordan with a number of grants under the Facility for Euro-Mediterranean Investment and Partnership (FEMIP), which has started its operations since 2002, with the main role of helping in the preparation and development of viable investment projects by providing grants for technical assistance. Technical assistance funds support activities linked to a potential or existing project and are earmarked for project design and management as well as for initiatives contributing towards economic reform, development of local financial markets and privatization. The following are the Technical Assistance Grants provided to Jordan by the EIB since 2006:

 

§Grant of Euro 2 million to finance a feasibility study and detailed design for Phases II and III of the Amman Ring Road. (The cooperation agreement between the EIB and Jordan was signed on 22 February 2006).

 

§Grant of Euro 1,998,000 to support implementing the Master Plan Study of the Amman Development Corridor. (The cooperation agreement was signed on 30 August 2007).

 

§Financing the feasibility study for the establishment of an early stage fund, and a venture capital fund in Jordan in the total amount of Euro 142,000 (concluded on 17 March 2008).

 

§Technical Assistance Grant of Euro 1,750,000 under FEMIP Trust Fund to support carrying out a Highway Master Plan Study for Road Network in Jordan (the cooperation agreement was signed in March 2009).






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