- In 2022, three GEFF facilities worth US$ 22 million were signed with Cairo Amman Bank, Etihad Bank and the Micro Fund for Women.
- Under the programme, the EBRD, GCF and EU will provide a total of $40 million in financing to local financial institutions, such as banks, microfinance institutions and leasing companies, to on-lend to the private sector for investment in high-performance technologies and services.
The European Bank for Reconstruction and Development (EBRD), the European Union (EU) and the Green Climate Fund (GCF) has launched the Green Economy Financing Facility programme (GEFF) in Jordan to support the country’s transition to a greener economy. Under the programme, the EBRD, GCF and EU will provide a total of $40 million in financing to local financial institutions, such as banks, microfinance institutions and leasing companies, to on-lend to the private sector for investment in high-performance technologies and services.
In 2022, three GEFF facilities worth US$ 22 million were signed with Cairo Amman Bank, Etihad Bank and the Micro Fund for Women. At the programme launch, the EBRD presented its holistic approach to supporting green investments through financing, investment grants and technical assistance for partner financial institutions and end clients through the EBRD GEFF programme. It also presented case studies from the programme in the SEMED region. In addition, representatives from the public and private sectors shared their views on challenges related to green financing and put forward ideas on how to catalyse green investments in Jordan.
EU Ambassador to Jordan, Maria Hadjitheodosiou, said, “The GEFF – facilitated and financed by EBRD, with the contribution of €4.5 million funds from the EU – provides an opportunity to address climate change needs and new economic opportunities in high-performance technologies and services supporting Jordan’s green economy transition. EU funds will be used to on-lend to eligible private sector commercial sub-borrowers and finance a technical cooperation programme.”