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776 million euros have been invested by the European Bank for Reconstruction and Development in Jordan over the past 6 years

Amman Today

publish date 2023-07-02 08:38:59

Since 2017, and by the end of last year, the European Bank for Reconstruction and Development has invested more than 776 million euros in 44 programs and projects in several sectors.

According to the bank’s annual report, a copy of which was received by “The Kingdom”, the bank’s investments in Jordan increased during the last six years by 11%, in which the share of the private sector amounts to 59.6%, while the share of financing projects that promote the green economy for the same period amounted to 383 million euros out of 754. million euros for the entire portfolio.

The bank’s strategy in Jordan focuses on the competitiveness of the private sector, small and medium enterprises, inclusive growth, sustainable infrastructure and better municipal services, and the transition to a green economy. The bank also participates in capacity building and corporate restructuring, such as supporting water utility companies.

Over the past six years, the bank has also provided business advice to more than 300 local small and medium-sized companies dealing with green and digital transformation and business internationalization, as well as soft financing and investment in sustainable local infrastructure.

In the sectors financed by the bank, the report indicated that it worked to improve solid waste management and wastewater treatment capabilities, in addition to expanding the capabilities of water networks through investments of approximately 223 million euros in the country’s infrastructure. Such as the wastewater project in Ain Ghazal through the construction of a new wastewater conveyor with a length of 30.4 km.

The Bank financed the launch of a comprehensive program to extract gas from landfills, which includes at least 9 cells in the Ghabawi area, through soft loans provided by the Bank to the Greater Amman Municipality.

The project contributes to strengthening resilience by designing crisis response tools to mitigate local infrastructure pressures in the areas most affected by Syrian refugees in Jordan, in addition to supporting the financial sustainability of utility services companies, governance, and private sector participation.

The Bank’s financing contributes to increasing the capacity of the infrastructure by providing better sanitation services to the residents of Amman, Zarqa and Rusaifa, including 600,000 Syrian refugees, with a total of 3,000 tons per day disposed of through a modern sewage treatment plant.

In the field of building greener cities, the bank contributed to financing the purchase of the first 15 electric buses in cooperation with the Greater Amman Municipality and offering them by a private operator, as it is expected to reduce emissions through them by 290 tons of carbon dioxide annually, which is equivalent to removing 62 cars from way in one year.

In addition, improving the flexibility and environmental sustainability of air transportation for Queen Alia International Airport.

In the field of renewable energy, the Bank supported the development of two wind farms in Jordan; It is expected to reduce the estimated amount of CO2 emissions reduction by 240 kilotons annually, equivalent to removing approximately 47,000 cars from the road.

As for the growth of small and medium enterprises, work has been done to provide more than 800 job opportunities in Jordan, while 41% of the supported small and medium enterprises increased their sales by 6.1 million euros.

Since beginning operations in Jordan in 2012, the Bank has invested nearly €2 billion to finance 71 projects. This amount includes financing of up to €180 million and grants of €130 million from the Bank under the Bank’s Municipal Resilience and Refugee Response Framework.

The kingdom

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Jordan News

Source : اخبار الاردن

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