Jordan receives around USD435.M loan from EIB to boost water security, climate adaptation
Date
7/16/2024 8:41:42 AM
(MENAFN) Jordan has secured a USD435.67 million loan agreement from the European Investment bank (EIB) to enhance water security and climate adaptation efforts. The agreement was signed by the Jordanian Minister of Planning and International Cooperation, Zeina Toukan, during the 15th meeting of the Partnership Council between Jordan and the European Union.
Minister Toukan highlighted that this program, announced in November of the previous year and to be disbursed through the general budget, aims to support water sector reforms. Key priorities include reducing water loss in facilities, enhancing sustainable water supplies, improving operational efficiency, and increasing the level of service to water and sanitation subscribers nationwide. Additionally, the program seeks to strengthen capacities within the water sector.
Lionel Rabaille, Director of Operations for Neighbouring Countries at the EIB, signed the agreement on behalf of the bank. The ministry also indicated that an additional grant worth USD54.36 million, provided by the EIB through the Global Concessional Financing Facility (GCFF) managed by the World Bank, will be signed in the coming weeks to support the implementation of this program.
MENAFN16072024000045015682ID1108444785
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.