Jordan
Kuwait Bank (JKB), in partnership with the International Finance Corporation
(IFC), a member of the World Bank Group, has announced the issuance of its
second Green Bond, reinforcing its leadership in sustainable finance and
reaffirming its commitment to supporting Jordan's transition towards a more
resilient and sustainable economy.
اضافة اعلان
Building
on the successful issuance of Jordan's first Green Bond in 2023, this second
issuance marks another important milestone in the Bank's sustainability journey
and reflects the growing momentum of sustainable finance in the Kingdom.
The
proceeds of the bond will be allocated to finance projects across renewable
energy, energy efficiency, blue finance, certified green buildings, and
sustainable transport, supporting investments that deliver long-term
environmental, social, and economic impact.
The
issuance is fully aligned with Jordan's Economic Modernization Vision, the
Central Bank of Jordan's Green Finance Strategy, and the Kingdom's broader
sustainability objectives. It also complies with the International Capital
Market Association's (ICMA) Green Bond Principles and Jordan Kuwait Bank's
Green Finance Framework, ensuring the highest standards of transparency,
governance, and disclosure.
As
part of this transaction, IFC is investing up to USD 100 million in the Bank's
Green Bond issuance. The investment is further supported through a
performance-based incentive under the IFC-UK Market Accelerator for Green
Construction (MAGC)- a blended finance program supported by the United Kingdom,
acting through the Department for Energy Security and Net Zero- which aims to
encourage financing for certified green buildings and accelerate sustainable
construction practices across emerging markets.
This
milestone reflects the continued confidence of leading international financial
institutions in Jordan's banking sector and highlights Jordan Kuwait Bank's
role in developing innovative financing solutions that contribute to
sustainable economic growth while creating positive environmental and social
impact.
On
this occasion, Haethum Buttikhi, Group Chief Executive Officer of Jordan Kuwait
Bank, said “The issuance of our second Green Bond marks another important
milestone in Jordan Kuwait Bank's sustainable finance journey and reinforces
our long-standing commitment to supporting Jordan's transition towards a more
resilient and sustainable economy.
Building on the success of Jordan's first
Green Bond, this issuance will mobilize capital towards projects that generate
meaningful environmental and economic impact, while supporting the Kingdom's
Economic Modernization Vision and strengthening the role of the financial
sector in advancing sustainable development”.
“Our
partnership with Jordan Kuwait Bank continues to raise the bar for sustainable
finance in Jordan, launching the country's first green bond,” IFC’s Regional
Industry Director for Financial Institutions, Momina Aijazuddin.
“This second
green bond marks the next chapter, supporting job creation, strengthen
resilience, and accelerate sustainable growth in support of Jordan's Economic
Modernization Vision.”
The
second Green Bond builds on Jordan Kuwait Bank's long-standing commitment to
integrating sustainability into its operations and financing activities.
Over
the years, the Bank has introduced a range of initiatives aimed at supporting
responsible banking practices, financing environmentally sustainable projects,
and contributing to the development of Jordan's sustainable finance ecosystem.
Through
continued collaboration with international development partners and the
introduction of innovative financial solutions, Jordan Kuwait Bank remains
committed to creating long-term value for its customers, shareholders,
communities, and the environment, while supporting Jordan's national priorities
for sustainable and inclusive economic growth.
