The European Bank for Reconstruction and Development (EBRD) has launched a new Green Finance program of 634 million US dollars for 13 countries, including Jordan. The program aims to provide concession financing, incentive grids and consulting services in order to support green investments in renewable energies, energy efficiency, sustainable construction and air -conditioned technologies.
According to EBRD data cited by Al Mamlaka TV, the program enable the Jordanian financial institutions to access Soft Loans, instruments for climate criticism and special training so that you can offer green financing products later and sustainably.
In Jordan, the program is expected to benefit several segments, including households, farmers, small and medium -sized companies (SMEs), municipalities, public supply companies and large companies.
The bank found that part of the financing will be aimed at social justice and geographical inclusiveness, with 30% of the loans being assigned to Amman outside of the capital, and 20% of the means that have been dissolved to women, which solved a balanced development throughout the kingdom.
Jordan is one of the 13 countries in the EBRD operating regions, which, alongside Egypt, Morocco, Kazakhstan, Uzbekistan, Serbia, Armenia, Georgia, Kyrgyzstan, Moldova, Mongolia, Northern Macedonia and Tajikistan, will benefit from the program.
The initiative entitled “Greening Financial Systems: Climate Finance in All” was launched in cooperation with the Green Climate Fund (GCF), which brought about 200 million US dollars to concession loans, incentive grants and technical support.
The program tries to accelerate the relocation towards green finance and transformation markets and to build on the success of the GEFF program (Green Economy Financing Facility Facility) worth 1.4 billion US dollars, including $ 378 million from the GCF.
Through this cooperation, the EBRD aims to strengthen the role of partner finance institutions in the financing of environmentally friendly projects and to encourage them to say goodbye to climate transition plans that match the Paris Agreement and at the same time provide additional financial incentives for institutions that are committed to such measures.
-Al Mamlaka