AIIB approves 250 mln-USD loan to Jordan
Board of directors of the Asian Infrastructure Investment Bank (AIIB) authorized 250 million-U.S.-dollar investment in Jordan to stimulate economic recovery from the COVID-19 pandemic, the bank said Wednesday.
According to a statement released by the AIIB, the bank's first loan to Jordan is expected to create more jobs by unleashing the economy's potential, especially in green growth.
"Jordan has been one of the most active countries in the region in adopting international climate change initiatives," AIIB Vice President Konstantin Limitovskiy was quoted as saying.
"Our support will assist the government's drive toward a greener, more climate-responsive, and more competitive economy," he said in the statement.
According to recent national statistics, Jordan's real GDP narrowed by some 1.6 percent in 2020 due to the pandemic, while unemployment rose to 24.7 percent and poverty increased by an estimated 40 percent in the earliest stage of the health crisis.