Capital Bank of Jordan PSC

10/16/2019 | Press release | Distributed by Public on 10/16/2019 04:09

Greater Amman Municipality and Capital Bank Sign Agreement to Establish Jeeran Park

Capital Bank and the Greater Amman Municipality have signed an agreement aimed at increasing cooperation between the two parties to support the Municipality's efforts in developing green urban spaces and environmentally-friendly public parks.

The agreement includes the establishment of the Jeeran Park project according to the Build-Operate-Transfer (BOT) model, and represents an example of collaboration and partnership between civil society organizations, the private sector, and the Greater Amman Municipality to develop service facilities for Amman residents.

The agreement, under which Capital Bank will design, establish, manage, and operate the Jeeran Park project in northern Abdoun for 20 years, was signed by Amman Mayor Dr. Yousef Shawarbeh and Chairman of Capital Bank Bassem Khalil Al-Salem, in the presence of Capital Bank CEO Ala Qumsieh and a number of senior officials from both parties.

The agreement between the two parties establishes a pioneering model for effective public-private partnership, which is in line with what the Greater Amman Municipality aspires to establish and in accordance with the latest international practices in the design, development, and management of public facilities to serve the local community.

The park will be built on a 3-donum and 300 meters area and is designed by renowned Jordanian architect Ammar Khammash. The park includes green areas made up of trees, plants, corridors, walkways and squares, in addition to management buildings and health units, a multi-purpose hall, a cafeteria, and Capital Bank ATMs.

On the sidelines of the signing ceremony, Amman Mayor said that the agreement represents a true success story, and the culmination of a year and a half of constructive cooperation between the Municipality and Capital Bank, as well as a model for effective partnership between civil and local society institutions and national institutions in the public and private sectors.

The Mayor said that what distinguishes this agreement is its role in promoting sustainability, preserving the environment, stopping the destruction of public facilities, and creating a safe environment for families and children while making the design accessible to people with disabilities. The Park has been designed as a modern urban model that adheres to the requirements of clean energy.

Shawarbeh pointed to the importance of building a consultative and participatory relationship with local communities which is based on the implementation and adoption of ideas and designs when establishing gardens and urban spaces in the city, stressing the need to build a relationship between man and his surroundings (i.e. the Park) by cultivating and nurturing it to ensure its sustainability for the family.

Chairman of Capital Bank Bassem Khalil Al-Salem said: 'Our ongoing collaboration with the Greater Amman Municipality is in line with the Bank's CSR strategy which focuses on building long-term strategic partnerships with public and private sector and civil society organizations, and aims to promote economic growth and environmental sustainability, and consequently, the development of the local community.'

Al-Salem noted that Capital Bank's CSR initiatives have achieved many successes and were praised by various society institutions because of their positive impact and direct contributions to beneficiaries. Al-Salem noted that Capital Bank's financing for the implementation of the project will support the efforts of the Greater Amman Municipality in carrying out its mission and vision to make Amman a flexible, organized, modern, attractive, sustainable, and viable city.

Al-Salem pointed out that Capital Bank hired the renowned Jordanian architect Ammar Khammash to develop the preliminary designs of the Park which will embrace international standards, and will distinguish itself from other public parks in Amman with its unique components and design elements as the designer took into account the environmental and community dimensions and aspects at all stages of project design and delivery.

Al-Salem praised the efforts of the Mayor of Amman and the Municipality staff and their hard work to make Amman a sustainable, modern and environmentally friendly city, by providing services that focus on the environmental, organizational, health and infrastructure dimensions, while preserving the identity of Amman and its cultural heritage, promoting community development and paying close attention to the human dimension through careful planning and the optimal investment of resources.

Following the signing of the agreement between Capital Bank and the Greater Amman Municipality, a tender will be issued for the two-year execution and construction of the Park project.

This agreement reflects the directions of Capital Bank's CSR strategy that aims to contribute effectively to overall development and make a positive impact on local communities.

A special committee that includes representatives from the local community, the Greater Amman Municipality and Capital Bank was formed to ensure that all parties involved in the partnership model are represented, and to make sure the project keeps up with the aspirations and needs of the local community at all stages, ending with the follow up and supervision on project execution. This promotes sustainability, empowerment and local community involvement as a central part of the development process.