Cairo Amman Bank borrows $10m to promote climate investments

Cairo Amman bank
(Photo: Cairo Amman Bank)
Press Release — Cairo Amman Bank obtained a loan of $10 million with the aim of promoting investments in climate projects in Jordan, and providing loans to small and medium-sized companies that invest in technologies to reduce the impact of climate change and adapt to it, the bank said in a press statement.اضافة اعلان

Of the total, $7.5 million comes from the European Bank for Reconstruction and Development (EBRD), while the remainder, or $2.5 million is financing from the Green Climate Fund.

It is the first financial facility obtained by Cairo Amman Bank within the framework of the regional green economy financing program, the Green Climate Fund in Jordan.

The loan agreement was signed by Jurgen Rigterink, first vice president of the EBRD and Head of Customer Services Group, and Kamal Al Bakri, CEO of Cairo Amman Bank.

With this, Cairo Amman Bank has “started a new era of green climate investments in Jordan in cooperation with the EBRD and the Green Climate Fund”, the statement said.

“This $10 million financial package under the frame of green economy finance facilities will enable the bank to invest in climate change and green technology,” it added.

“This cooperation and appropriate moral and financial support enables the bank to strengthen its partnership with the EBRD to continue and achieve the success stories that have contributed greatly to Jordan’s economic growth in the past few decades,” according to the statement.

During the past years, Cairo Amman Bank intensified its activities and events aimed at spreading the culture of the green environment, as the bank took upon itself the dissemination and promotion of this culture in the community.

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