AMMAN — In an effort to support Jordan’s transition to
a greener economy, the European Bank for Reconstruction and Development (EBRD),
the EU, and the Green Climate Fund (GCF) launched on Tuesday the Green Economy
Financing Facility program (GEFF).اضافة اعلان
Jordan is the
latest country to join the GEFF program in the southern and eastern
Mediterranean (SEMED) region, a press statement said.
Under the
program, the EBRD, GCF, and EU will provide a total of $40 million in financing
to local banks, microfinance institutions, and leasing companies to on-lend to
the private sector for investment in high-performance technologies and
services.
Three GEFF
facilities worth $22 million have already been signed with Cairo Amman Bank,
Etihad Bank, and the Microfund for Women.
The GEFF program
aims to address significant climate mitigation and adaptation challenges by
encouraging micro-, small, and medium-sized enterprises, and households to
invest in green and innovative technologies that promote energy, water, and
material efficiency solutions alongside renewable energy,
The program
launch was attended by Jordanian Environment Minister Muawieh Radaideh, EU
Ambassador to Jordan Maria Hadjitheodosiou, EBRD Managing Director for SEMED
Heike Harmgart, EBRD Director for the eastern Mediterranean region Philip ter
Woort, and EBRD Managing Director for Financial Institutions Francis Malige.
Radaideh stated
that Jordan appreciated the efforts of the EBRD, EU, and GCF in supporting
Jordan’s economy.
“Jordan hosts
refugees from several asylum waves, which has placed Jordan as the second
poorest country in the world in terms of water, affecting agriculture,
industry, welfare, and quality of life,” he said.
He also added
that Jordan hopes to reduce 30 percent of greenhouse energy emissions in the
next 10 years.
Representatives
from the public and private sectors were present at the program launch, shared
their views on challenges related to green financing, and put forward ideas on
how to catalyze green investments in Jordan.
At the launch,
Woort said: “We are very proud that, with EU and GCF support, we are all
working to build a greener and more resilient economy in Jordan. I am confident
that, jointly with our partner financial institutions, we will be able to share
many more impactful success stories related to private sector investments in
green technologies in the years to come.”
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