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TunisiaEuropean Bank for Reconstruction and Development supports secure and green energy in Jordan
The European Bank for Reconstruction and Development (EBRD) is providing Jordan’s National Electric Power Company (NEPCO) with a US$ 100 million financing package to help the firm address working capital constraints by replacing short-term debt financing borrowed at the first peak of the Covid-19 crisis in the spring with a longer-term facility. The proceeds will support NEPCO’s financial position.
With funding from the Swiss State Secretariat for Economic Affairs, the EBRD will also support NEPCO in an apprenticeship programme to promote career opportunities for women and young professionals, taking the opportunity of this pandemic-related support to build a more inclusive energy sector.
Since the start of its operations in Jordan in 2012, the EBRD has provided close to €1.4 billion in 58 projects, including more than €535 million in 14 loans to projects in the country’s energy sector.
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