European Investment Bank President Werner Hoer announced the European Union's plan to provide nearly $ 1 billion in grants and loans to support infrastructure projects in Jordan as well as support the role of the private sector in the economy.

Hoer said during the London Initiative 2019, that the financing package which the bank seeks to provide Jordan includes loans of 800 million euros and 70 million euros allocated for a number of projects.

The bank signed an agreement for the financing of the Deir Alla and Karama project with a value of 65 million Euros, which was signed by Jordanian Minister of Planning and International Cooperation Mary Kawar and the President of the European Bank.

The bank is providing a grant of 16.3 million euros to contribute to the project which is expected to contribute to the improvement of drinking services for nearly 85,000 residents in Deir Alla and Karama districts in the Jordan Valley region, the bank said.

The project includes modernizing drinking water systems and building a sewage network.

The project has two components: the first includes improvements to the water supply systems in Deir Alla and Karama districts to carry out works for new pipelines and replacement of existing pipes, construction of new water tanks in the area, expansion and construction of pumping stations, existing water wells and reservoirs as well as procedures for repairing pipes and installing counters and valves in order to reduce the amount of lost water.

The second component involves the establishment of a centralized sewage collection and treatment system in Deir Alla through new sewerage and pipeline networks and the construction of a new sewage treatment plant to serve the residents.

The European Bank also announced the establishment of an office at the EU embassy in Amman to strengthen relations with Jordanian business communities and the ongoing coordination with the Jordanian government.