23 October 2011
Dead Sea - His Majesty King Abdullah II on Sunday attended the signing of $3 billion deals in the industrial, technical and financing sectors that would help to develop the services sector, create job opportunities and shore up economic reform in the Kingdom.
The deals were inked on Dead shores as the annual World Economic Forum WEF on economic growth and job creation in the Arab world draws to a close.
Representatives of companies that signed the agreements commended the King's efforts to empower the private sector to take a key role in Jordan's development drive.
Jordan Enterprise Development Corporation (JEDCO) Chief Executive Officer Yarub Qudah signed a $30 million capital deal with Vice President of the European Investment Bank (EIB) Philippe de Fontaine and Abraaj Capital Managing Director Mustafa Abdel-Wadood.
Under the latter agreement, sealed at a capital that could reach $50 million in 8 years, Abraaj Capital will manage the financing operations of small and medium size enterprises for 3 years with a financing ceiling of $5 million.
Another $2 billion Solar Electric Vehicles Charging Pilot Project deal was signed between the Princess Sumaya Technology University and NETenergy.
A $25 million deal was also inked by the King Abdullah Development Fund and Petra Solar Company to generate solar energy in the southern governorate of Tafileh.
Other Investment deals signed earlier were also announced at the WEF today.
One of the agreements is related to the Badr Industrial Complex with a capital of $650 million, the Oasis 500 Co., agreement between Microsoft and Zain and Umniah and Microsoft, Umniah and IBM and a partnership between Intel and the Queen Rania Center for Entrepreneurship.
Attending the signing ceremonies were HRH Princess Sumaya Bint Al Hassan, Royal Court Chief Khaled Karaki, the King's Advisor for Media Affairs and Communications Amjad Adayleh and Advisor at the Royal Court Amer Hadidi.
Dead Sea - His Majesty King Abdullah II on Sunday attended the signing of $3 billion deals in the industrial, technical and financing sectors that would help to develop the services sector, create job opportunities and shore up economic reform in the Kingdom.
The deals were inked on Dead shores as the annual World Economic Forum WEF on economic growth and job creation in the Arab world draws to a close.
Representatives of companies that signed the agreements commended the King's efforts to empower the private sector to take a key role in Jordan's development drive.
Jordan Enterprise Development Corporation (JEDCO) Chief Executive Officer Yarub Qudah signed a $30 million capital deal with Vice President of the European Investment Bank (EIB) Philippe de Fontaine and Abraaj Capital Managing Director Mustafa Abdel-Wadood.
Under the latter agreement, sealed at a capital that could reach $50 million in 8 years, Abraaj Capital will manage the financing operations of small and medium size enterprises for 3 years with a financing ceiling of $5 million.
Another $2 billion Solar Electric Vehicles Charging Pilot Project deal was signed between the Princess Sumaya Technology University and NETenergy.
A $25 million deal was also inked by the King Abdullah Development Fund and Petra Solar Company to generate solar energy in the southern governorate of Tafileh.
Other Investment deals signed earlier were also announced at the WEF today.
One of the agreements is related to the Badr Industrial Complex with a capital of $650 million, the Oasis 500 Co., agreement between Microsoft and Zain and Umniah and Microsoft, Umniah and IBM and a partnership between Intel and the Queen Rania Center for Entrepreneurship.
Attending the signing ceremonies were HRH Princess Sumaya Bint Al Hassan, Royal Court Chief Khaled Karaki, the King's Advisor for Media Affairs and Communications Amjad Adayleh and Advisor at the Royal Court Amer Hadidi.
© Jordan News Agency - Petra 2011
