EIB supports energy efficiency in Jordanian municipalities

JORDAN / EU : The European Investment Bank (EIB) signed a cooperation agreement on technical assistance with the Cities and Towns Development Bank (CVDB) in Jordan on Wednesday 7 October 2020 in Amman.

This partnership, comprising €1.4 million in European grants in addition to a €45 million loan already granted, will support the implementation of the energy efficiency programme for municipalities deployed by the CVDB. It aims to reduce energy consumption by 20% and to reach 15% renewable energy in total electricity production.

The EIB will carry out technical studies, develop the programme’s catalogue of sub-projects to improve the energy efficiency of municipal services buildings (including the installation of solar panels on roofs) and lighting infrastructure throughout the country, as well as contribute to the establishment of solar farms. “The advisory and technical support services will contribute to the implementation of the project in line with best practice and in the interest of Jordanian municipalities in order to reduce electricity bills and lower the financial burden on municipalities,” comments Osama Al-Azzam, Director General of the CBD.

The grant is part of the EIB’s Economic Resilience Initiative (ERI), which aims to strengthen the capacity of the EU’s Southern Neighbours to address key challenges.

A public body established in 1979, the CBDR is owned by the Government of the Kingdom of Jordan (69%), the Central Bank of Jordan (1%) and the Local Councils of Municipalities (30%).

Source : econostrum