Jordan needs $9.5b in investments to battle climate change —World Bank

1. World Bank
(File photo: Jordan News)
AMMAN — The World Bank Group, in collaboration with the Jordanian government, launched the Jordan Country Climate and Development Report (CCDR) on Wednesday, according to the Jordan News Agency, Petra.اضافة اعلان

In the report, the World Bank estimated Jordan’s needs for additional investments to achieve resilient, low-carbon development in key sectors at about $9.5 billion.

These estimates do not include the national water carrier project, as these estimates come to fully implement priority actions by 2030, based on the priorities of national contributions to combat climate change.

These include projects that contribute to adaptation and resilience in the water, agriculture, energy, transportation and urban development sectors (including green buildings and waste management).

The report presented a set of measures and recommendations to initiate the long-term transformation of urban areas in Jordan, starting with Amman, into inclusive, green, and resilient cities.

The report also called for identifying priority investment opportunities in green infrastructure and services, particularly public spaces and nature-based solutions to mitigate floods, including improving water recycling from rainwater harvesting for non-potable uses.

The report indicated that this matter will reduce financial losses resulting from the risks of natural disasters, explaining that the cost of temporary transportation may be expensive, but it avoids future loss in productivity due to floods.

The report recommended that priority be given urgently to the infrastructure of municipalities, — the Greater Amman Municipality in particular — including recycling and sorting facilities, sanitation systems, and waste collection and diversion systems.

The Jordan CCDR offers an evidence-based assessment identifying pathways toward climate-resilient, low-carbon growth and development, including integrated solutions for the water-energy-food security nexus and for low-carbon and resilient cities.

The event, held at the Jordan Museum in Amman and attended by representatives from the public and private sectors, academia, research institutions, international partners, and the media, tackled the key findings and recommendations of the report, and how Jordan’s sustainable development goals, especially growth and job creation, can be achieved by ensuring fiscal sustainability and addressing climate risks.

The Jordan CCDR aligns with Jordan’s 10-year Economic Modernization Vision, which places sustainable practices and green investment at the core of Jordan’s future growth.

The report was based on extensive consultations with stakeholders spanning government officials, private sector representatives, international partners and civil society, which informed the CCDR’s analysis and policy recommendations.

In this regard, Deputy Prime Minister for Economic Affairs and Minister of State for Public Sector Modernization Nasser Shraideh said that climate change is already having a significant impact on the Kingdom.

As such, he added, the new Economic Modernization Vision views green investments and sustainable practices as crucial building blocks for the future growth of the Jordanian economy.

Jordan is facing serious water scarcity, rapid population growth, and has limited natural resources. Although delays in addressing climate change may exacerbate Jordan’s development challenges, the country’s climate and development report emphasizes that climate-smart development can reduce inequality, protect livelihoods, and strengthen social cohesion.

Commenting on the report, WB Vice President Ferid Belhaj said that Jordan has already emerged as a regional trailblazer in climate action.

He added that the implementation of the Economic Modernization Vision by the government, the private sector and the Jordanian people, with the support of international partners, offers an opportunity to rethink the Kingdom’s economy with a view to confronting climate change and turning the challenge into an opportunity.

According to the report, Jordan’s trajectory in meeting its climate and development goals will be largely determined by policy and investment choices in five strategic sectors: water, energy, agriculture, transport and urban development.

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