PM, EBRD president talk collaboration in addressing COVID-19 crisis

AMMAN — Prime Minister Omar Razzaz on Tuesday discussed collaboration to address the repercussions of the novel coronavirus with President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarty.

Discussions via a videoconference, which was attended by Minister of Planning and International Cooperation Wissam Rabadi, went over the Kingdom’s efforts to contain the virus, briefing EBRD officials on the health, economic and social measures taken by the government, the Jordan News Agency, Petra, reported.

Razzaz voiced appreciation for the EBRD’s support, notably investments in several priority areas, including projects in the renewable energy, electricity, pharmaceuticals, water, sanitation and solid waste fields, in addition to support for the private sector and SMEs.

The prime minister also highlighted the importance of the emergency solidarity package that the bank established to support countries in which the bank operates, including Jordan, as well as channelling financing to the bank’s current and new customers and sectors affected by the coronavirus crisis, Petra reported.

Chakrabarty expressed admiration for the Kingdom’s efforts in battling the COVID-19 pandemic and its economic repercussions, briefing Razzaz on the content of the emergency package, which increased the Resilience Framework to 4 billion euros from 1 billion euros in order to finance liquidity through loans and lines of credit.

The package also includes the Trade Facilitation Programme to track restructuring for affected clients and the new Vital Infrastructure Support Programme for meeting essential infrastructure requirements, including financing for working capital, stabilisation and essential public investment.

The frameworks aim at empowering companies and the EBRD’s clients in the bank’s countries of operation and providing financing opportunities to underpin the Kingdom’s commercial banks in supporting trade facilitation operations as well as financing SMEs amid the coronavirus crisis.

Chakrabarty also reiterated the EBRD’s support for Jordan, highlighting the bank’s readiness to continue providing assistance to the Kingdom through the emergency solidarity package and other avenues, Petra reported.