European development bank launches program to finance Jordan’s transition to greener economy

AMMAN – The European Bank for Reconstruction and Development (EBRD) on Tuesday launched the Green Economy Financing Facility program in Jordan to support the country’s transition to a greener economy, the bank said in a statement.

In cooperation with the European Union and the Green Climate Fund, the EBRD will provide a total of 40 million U.S. dollars to Jordanian financial institutions, such as banks, microfinance institutions and leasing companies, to offer loans to the private sector for investing in high-performance technologies and services, the bank said.

Demand for natural resources, including water and energy, is growing continuously in Jordan due to climate change and rapid population growth, the bank said.

The program aims to help address the 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.

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