The European Bank for Reconstruction and Development (EBRD), together with the Green Climate Fund (GCF) and the European Union (EU), is supporting Jordan’s transition to a greener economy through a new financing initiative. The EBRD has provided a loan of up to US$20 million to Cairo Amman Bank (CAB), with the GCF contributing US$5 million, representing 25 percent of the total financing.
The funding will be used by Cairo Amman Bank to provide loans to individuals and private-sector micro, small, and medium-sized enterprises (MSMEs). These loans will help finance investments in climate change mitigation and adaptation technologies, as well as upgrades that improve environmental performance and align with international best practices.
This marks the second loan extended to Cairo Amman Bank under the GCF–Green Economy Financing Facility (GEFF) Regional Programme in Jordan. It follows the successful implementation of a US$10 million financing facility provided in 2022, reflecting the continued partnership between the institutions to expand green financing in the country.
The initiative aims to strengthen Jordan’s green economy by increasing access to finance for businesses and individuals investing in energy-efficient equipment, climate-resilient technologies, and sustainable solutions. It is also expected to encourage the growth of a market for high-performance green technologies and services across the country.
In addition to the financing, the project includes a comprehensive technical cooperation package funded by the EBRD, the EU and the GCF. The programme will support the implementation and monitoring of the financing facility while providing training and capacity building for Cairo Amman Bank’s employees. The training will focus on integrating climate change and gender equality considerations into the bank’s lending practices.
Eligible borrowers will also benefit from grant incentives funded by the European Union, along with access to technical expertise and greater awareness of climate mitigation and adaptation technologies, helping accelerate sustainable investments across Jordan.
Subscribe to get the latest posts sent to your email.
