MIGA EVP Hiroshi Matano to Visit Jordan
WASHINGTON, D.C., September 16, 2022 — Hiroshi Matano, Executive Vice President of the Multilateral Investment Guarantee Agency (MIGA), will visit Jordan to meet with government officials, and tour the Queen Alia International Airport and the As Samra Wastewater Treatment Plant, both MIGA-supported projects, during a two-day visit starting September 18. MIGA’s Regional Head for the Middle East and North Africa Region, Layali Abdeen, will accompany Matano.
Matano will meet with various government ministries (Finance, Investment, Transport, and Water and Irrigation) and the mayor of the Greater Amman Municipality. The discussions will focus on Jordan’s priority projects in the infrastructure sector, including water and transport, that are being developed with private partners. MIGA is very interested in mobilizing private sector investment into key projects, especially those structured as public-private partnerships.
“MIGA will continue its efforts to promote private sector investment to support projects that will enhance service delivery to the people of Jordan,” said MIGA Executive Vice President Hiroshi Matano. “We look forward to identifying potential projects to support in the water, transport, and energy sectors, all key development areas, during our discussions with the government ministries.”
Matano will also visit two existing projects supported by MIGA. In 2018, MIGA issued guarantees to support capital expenditures targeting optimization of the commercial activities of Jordan’s principal airport, Queen Alia International Airport. Improvements to duty-free shopping, specialty retail, food, and beverage facilities were expected to generate higher non-aeronautical revenues and enhance passenger’s travel and retail experience. The airport, a key infrastructure asset for Jordan and the first airport built via a public-private partnership in the Middle East, was used by over 8.9 million passengers in 2019. Of these passengers, 2.3 million were tourists that contributed to the country’s economic growth and development, including sustaining 200,000 jobs.
In 2013, MIGA issued guarantees to support the expansion of an existing wastewater plant, As Samra Wastewater Treatment Plant, located northeast of Amman. The expansion increased the wastewater treatment by some 37 percent to meet the needs projected up to 2025. Two additional treatment lines were added to the existing four and sludge treatment was increased by approximately 80 percent.
MIGA’s current exposure in Jordan stands at $558 million, spanning 4 projects in the manufacturing, transport, water and power sectors.
MIGA was created in 1988 as a member of the World Bank Group to promote foreign direct investment in emerging economies by helping mitigate the risks of restrictions on currency conversion and transfer, breach of contract by governments, expropriation, and war & civil disturbance; and offering credit enhancement to private investors and lenders.
Since its creation, MIGA has issued nearly $70 billion in guarantees across 122 developing countries in support of nearly 1,000 projects.
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