Support to the Jordan Investment Commission (EBRD-12802)

Countries
  • Jordan
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Jordan Investment Commission
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Technical Cooperation
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Advisory Services
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 23, 2020

Disclosed by Bank Jul 22, 2020

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank provided information, the three proposed areas of technical assistance reflect the investment cycle from promotion and attraction through aftercare: a) Investment promotion targeting the Jordanian diaspora and other businesses operating in the Gulf region; b) Investment promotion events outside of Jordan; c) Investment Aftercare;

Component A

The EBRD’s experts will engage a specialised firm to support JIC to identify concrete and available investment opportunities and to promote them to targeted Jordanian diaspora and international businesses operating in the Gulf region through ad hoc meetings. The firm will work closely with JIC staff and its leadership to:

  1. Identify specifically suitable and relevant investment opportunities and build a clear and credible portfolio to be pitched to investors.

  2. Assist JIC to make the portfolio of investment opportunities available in a simple and effective electronic format;

  3. Identify and analyse potential, suitable high net worth investors from the diaspora in the target Gulf countries, diversifying between first generation emigrants, second generation migrants, returning migrants, entrepreneurs, financial investors. Such exercise would have to be conducted relying on available and up-to-date data, or gathering such information where needed;

  4. Identify and analyse potential, suitable investors present in the Gulf region from the UK and other countries. In this process, the specialised firm will be able to rely and follow up on the interest and data about potential investors accumulated during the Jordan: Growth and Opportunity: the London Initiative 2019 conference.

  5. Assist in arranging and preparing targeted and tailored ad hoc meetings with both Jordanian diaspora and other investors present in the Gulf region;

  6. Deliver tailored trainings to relevant staff of the JIC on each of the above mentioned components.

Component B

The technical assistance will be provided to organise and fund the investment promotion events on the margins of Expo Dubai 2020/2021 in close coordination with the other activities organised by the Jordanian Government.

Component C

The EBRD will partner with the World Association of Investment Promotion Agencies (WAIPA) to deliver for JIC, a member of WAIPA, both a diagnostic of the effectiveness of investment aftercare as performed by JIC and a tailored, on-the-job training programme in order to enhance the capacity of the organisation to take advantage of the existing base of foreign investors to generate new investment and employment.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

*Contact information not provided at the time of disclosure*

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.

How it works

How it works