Jordan, World Bank sign $250mln finance agreement for water efficiency project
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The financing package includes a $200mln soft loan from the International Bank for Reconstruction and Development (IBRD)
AMMAN — Minister of Planning and International Cooperation Zeina Toukan and World Bank Country Director for the Middle East Jean-Christophe Carret on Sunday signed a $250 million agreement to finance the Water Sector Efficiency Project in Jordan.
The financing package includes a $200 million soft loan from the International Bank for Reconstruction and Development (IBRD), complemented by a $50 million grant from the World Bank-run Global Concessional Financing Facility (GCFF). The grant aims to scale up support to middle-income countries coping with large refugee influxes, according to a ministry statement.
Toukan expressed her appreciation to the World Bank for its continued partnership with Jordan and its support for the country’s reform and development priorities.
The project’s objectives revolve around upgrading water distribution networks, reducing water losses and optimising energy consumption, while implementing a drought management system.
Commenting on the initiative, Carret highlighted Jordan’s water scarcity challenges, which pose a significant threat to the country’s economic and social development.
The financing agreement is the first step in a series of proposed projects to support Jordan’s water management efforts, he said. Notably, the series includes projects to tackle water waste, enhance energy consumption efficiency, elevate service delivery standards and fortify the financial sustainability of the water sector.
The Water Sector Efficiency Project in Jordan aligns with the government’s recently approved National Water Sector Strategy and the Financial Sustainability Roadmap for the Water Sector.
The project also shows Jordan’s commitment to implementing the World Bank’s recommendations as outlined in their Climate and Development Report, which attached priority to water sector efficiency, minimising water loss, enhancing drought risk management and fostering cohesive solutions between water, energy and water security.
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