Abu Dhabi, UAEMonday 24 June 2019

World Bank CEO and King Abdullah slated to attend UK conference on Jordan

Jordanian and British officials are also expected to be joined by high-level representatives from the GCC

Kristalina Georgieva and other World Bank representatives will attend the London conference in February. EPA
Kristalina Georgieva and other World Bank representatives will attend the London conference in February. EPA

Jordan’s King Abdullah and Prime Minister Omar Al Razzaz will attend a conference later this month in London to attract investment to the kingdom.

The February 28 London conference seeks to highlight Jordan’s economic reforms and attempts to cut its national debt after its economy was hit badly by the impacts of wars in Syria and Iraq.

The wars disrupted trade routes and investment and led to an unprecedented influx of refugees.

The country is hoping to attract investment for its tourism, information technology, logistics and professional services sectors.

Kristalina Georgieva, interim president and CEO of the World Bank, will also attend with the invitation list including CEOs and finance ministers.

Mr Al Razzaz trumpeted Jordan’s progress at Davos last month telling CNBC it was time to look forward. “We've taken the fiscal measures that we need to take, we've taken the governance measures, we have very transparent procurement laws,” he said.

The UK’s Minister for the Middle East Alistair Burt said that Jordan was already a “beacon of stability” in a turbulent region.

“Additional private sector investment will help it stand on its own two feet, become less dependent on aid and more politically and economically stable,” he said.

Saudi Arabia, the UAE, and Kuwait have pledged US$2.5 billion in aid to Jordan over the next five years and have been issued invitation to the conference.

Updated: February 14, 2019 07:54 PM

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