Jordan: EUR 100 million EIB backing to tackle water scarcity
December 5, 2023
European Investment Bank (EIB) announced an additional EUR 100 million of new investment for construction of the Aqaba Amman Desalination and Water Conveyance project. The scheme will desalinate water from the Red Sea and transport it to Amman and towns across Jordan, one of the most water-scarce countries in the world, thereby contributing to climate change adaptation. This additional funding follows EUR 200m signed in December 2022.
Finance agreements for the new EUR 100 million loan provided by European Investment Bank, the world’s largest international public bank and leading global financier for water investment, were signed by Gelsomina Vigliotti EIB Vice President and Zeina Toukan, Jordanian Minister of Planning and International Cooperation at the COP 28 climate conference currently taking place in Dubai.
The latest EIB financing for sustainable water investment in Jordan will be used alongside a EUR 50 million grant from the European Union.