Jordan, World Bank sign $250m financing agreement for water sector efficiency

world bank
World Bank. (Photo: Twitter)
AMMAN — The minister of planning and international cooperation, Zeina Toukan, and World Bank country director for the Middle East department, Jean-Christophe Carret, signed on Sunday a $250 million financing agreement for a water sector efficiency project in Jordan.اضافة اعلان

According to a ministry press release, $200 million of the total amount will be in the form of a soft loan from the International Bank for Reconstruction and Development, and $50 million will be in the form of a grant from the Global Concessional Financing Facility (GCFF), which is managed by the World Bank and provides concessional financing to middle-income countries hosting large numbers of refugees, the Jordan News Agency, Petra reported.

The components of the project are summed up in the sustainable reduction of water loss rates, raising energy efficiency, reducing the costs of supplying water to water pumping stations, and developing measures related to water security that will preserve water resources and increase the efficiency of its use.

The water sector efficiency project in Jordan is fully consistent with the national strategy for the sector, which was recently approved by the government, and the road map for financial sustainability of the water sector, which was approved by the Cabinet in November 2022.

Severe water crisis
Carret said that Jordan is one of the most water-scarce countries in the world, adding that it is witnessing a severe water crisis that undermines economic and human development in the country.

This funding, he noted, is the first step in a series of proposed projects that aim to support Jordan's efforts in addressing water waste, improving energy efficiency, and enhancing the country's resilience to climate shocks.

The project also supports the implementation of the main recommendations contained in the World Bank Group’s Country Climate and Development Reports in Jordan, which put water sector efficiency at the top of its priorities.

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