Algeria
Egypt
Israel
Jordan
Lebanon
Libya
Morocco
Palestine *
Syria *
TunisiaEBRD, EU and GCF support green investments in Jordan
The European Bank for Reconstruction and Development (EBRD) and Bank al Etihad of Jordan have signed a US$ 10 million Green Economy Financing Facility (GEFF) that includes US$ 0.5 million of co-financing from the Green Climate Fund (GCF). The package is complemented by investment incentive grants provided by the European Union (EU), totalling up to €1.125 million, and by technical assistance support from multiple donors.
The facility will be on-lent to local private micro, small and medium-sized enterprises (MSMEs) in Jordan for investment in climate change adaptation and mitigation technologies and services.
This partnership marks the first EBRD Green Economy Financing Facility (GEFF) with a Jordanian bank. The investments will bolster the development of an environmentally sustainable, low-carbon and climate-resilient economy in Jordan, a country that suffers from water scarcity and is among those with the highest annual growth rates for energy demand while also fully dependent on energy imports.
The financing will support individuals, local private MSMEs and technology suppliers, through sub-loans to finance investments in climate adaptation and mitigation technologies and services.
For more information
Countries covered:
-
Jordan
