CVDB, USAID conclude investment training for municipalities

Amman: The Cities and Villages Development Bank (CVDB) concluded a training workshop, held in cooperation with the Ministry of Local Administration and the United States Agency for International Development (USAID)'s Jordan Municipal Support Program. A group of directors of the local development and investment departments in the Kingdom's municipalities and the bank engaged in the training activities, a CVDB statement said on Thursday. The two-day event introduced laws and legislation regulating investment in Jordan's municipalities and investor incentives, which also featured skills to prepare feasibility studies for projects, risk management, and partnership contract terms, the statement pointed out. The workshop comes within the context of the joint goals of the bank and the ministry to help the Kingdom's municipalities by providing expertise and technical services. Two years ago, amendments were made to the CVDB law, allowing the bank to finance the municipalities's partnership projects with the priva te sector to establish income-generating investment development projects. The bank indicated that this process aims to pump the necessary funds into the municipalities' budgets and reduce their deficit to provide municipal services. Source: Jordan News Agency