On 10 September,  in Amman, EIB Global – the development arm of the European Investment Bank (EIB) – in partnership with the Central Bank of Jordan, announced the launch of the Greening Financial Systems technical assistance programme in the country. The programme will support the Central Bank of Jordan as it creates an environment that promotes the transition to a net-zero, climate-resilient financial system, and will help Jordanian commercial banks integrate climate risk assessment into their operations and green their business models. As a result, Jordanian businesses will enjoy better access to finance for building resilience to climate change and investing in green and sustainable technologies.

“By working together, we can unlock the high investment volumes needed for a sustainable and resilient future. The EIB’s global experience and technical expertise will support Jordanian banks in leading the green transition,” said EIB Vice-President Gelsomina Vigliotti. “The EIB is delighted to work alongside the Central Bank of Jordan and our European partners to bring global expertise in green finance to Jordan. By empowering local banks and financial institutions, we can accelerate climate action and ensure that the benefits of sustainable finance reach every corner of the country.”

The EIB is a strong supporter of Jordanian businesses. Since 2017 it has provided over €1 billion of loans, as well as guarantees able to cover loan portfolios of over €200 million, partnering with eight banks and two microfinance institutions. Access to green finance is a top priority for the EIB in Jordan. The Greening Financial Systems technical assistance programme was designed by EIB Global with funding from Germany through its International Climate Initiative (IKI). The programme contributes to the work of the NDC Partnership, a global coalition of 130 countries and more than 110 institutions to help achieve the Paris Agreement goals and drive sustainable development.