Oman, Jordan launch $100 million investment company

Oman and Jordan agreed to create a $100 million joint investment company to back projects in the Hashemite kingdom’s energy, mining and technology industries.

The venture will be owned equally by Oman Investment Authority and Jordan’s Social Security Investment Fund, with each contributing half the capital, Arab News reports.

Executives from the two funds say the project is intended to support economic diversification, deepen cross-border investment and expand commercially viable projects in high-growth sectors.

The announcement follows the World Bank’s approval of a $700 million loan to support Jordan’s private-sector growth.