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Fri 22 May 2015 01:29 PM

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Jordan's king reveals $20bn investment opportunities at summit

King Abdullah II says projects will be delivered via public private partnerships; part of new 10-year economic plan

Jordan's king reveals $20bn investment opportunities at summit

Investment opportunities worth an estimated $20bn will boost Jordan's economy as part of a new 10-year economic plan, the country's King Abdullah said on Friday.

Speaking at the opening of the World Economic Forum for the Middle East and North Africa, King Abdullah (pictured below) said that the projects would be delivered via public private partnerships, and that more details would be announced later on Friday.


"This plan will be delivered by through public and private partnerships and to a large extent through projects of over $18bn to be announced today," King Abdullah said.

"Some are funded by the government and here I have to thank Saudi Arabia, Kuwait and the UAE for their support in many of the development projects in the kingdom over the past few years.

The three Gulf nations have helped fund the $5bn GCC support plan for Jordan and Morocco.

The king said the economic plan - dubbed Jordan 2025 - will include projects in urban development, water infrastructure and diversified sources of energy. He also said more would be done to support small and medium-sized enterprises via incubators, development zones and new partnerships.

The International Monetary Fund (IMF) has projected that the Jordanian economy will grow by 3.8 percent this year, after an increase of just over 3 percent in 2014. 

Click here for all the stories from our coverage of the World Economic Forum, MENA, in Jordan

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