{"id":77051,"date":"2023-04-19T12:08:49","date_gmt":"2023-04-19T12:08:49","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/04\/19\/jordan-lands-usd-650-mn-loan-agreements-from-the-world-bank-to-boost-climate-investments-and-electricity-sector\/"},"modified":"2023-04-19T12:08:49","modified_gmt":"2023-04-19T12:08:49","slug":"jordan-lands-usd-650-mn-loan-agreements-from-the-world-bank-to-boost-climate-investments-and-electricity-sector","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/04\/19\/jordan-lands-usd-650-mn-loan-agreements-from-the-world-bank-to-boost-climate-investments-and-electricity-sector\/","title":{"rendered":"Jordan lands USD 650 mn loan agreements from the World Bank to boost climate investments and electricity sector"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-02\"><\/a><strong> Jordan and the World Bank (WB) have signed two loan <\/strong><strong>agreements worth USD 650 mn to finance two projects<\/strong> targeting climate responsive public and private investments and improvements to the country\u2019s electricity sector, according to a <a href=\"https:\/\/www.worldbank.org\/en\/news\/press-release\/2023\/04\/17\/two-new-projects-to-foster-climate-responsive-investments-for-growth-and-job-creation-and-to-support-jordan-s-electricit\">statement<\/a>. The agreements were signed on the sidelines of the World Bank Spring meetings in Washington.<\/p>\n<p><strong>Where\u2019s the money going? <\/strong>The bank will provide c. USD 400 mn to support the country\u2019s climate responsive public and private investments to promote jobs for women and boost the government\u2019s effectiveness through data and evidence-based policy making, according to the statement. The financing will \u201cfurther strengthen the quality of public investment and prioritize climate responsive public investment, including through public-private partnerships,\u201d the statement noted, and pave the way for the possible issuance of sovereign green bonds and the implementation of a National Green Taxonomy.<\/p>\n<p><strong>Jordan\u2019s electricity infrastructure will also get a boost: <\/strong>USD 250 mn will be earmarked for improving the efficiency of the country\u2019s electricity sector by introducing reforms with a focus on cost saving and revenue enhancement measures. Despite the country\u2019s achievements of increasing the share of renewables in the electricity supply mix and introducing private investments to the sector, Jordan\u2019s electricity sector still faces hurdles that hinder long-term growth, the statement notes, including losses by Jordan\u2019s National Electric Power Company, a rise in electricity purchase costs, and an increase in debt service costs.<\/p>\n<p><strong>REMEMBER- <\/strong>Jordan needs to rake in c. USD 9.5 bn in investments between now and 2030 to move towards low-carbon development, according to the World Bank\u2019s Country Climate and Development <a href=\"https:\/\/openknowledge.worldbank.org\/server\/api\/core\/bitstreams\/d6678f0c-d860-559b-99fa-e31ab663cd95\/content\">report<\/a>. The country will have to source 60% of the funds from private sector financiers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jordan and the World Bank (WB) have signed two loan agreements worth USD 650 mn to finance two projects targeting climate responsive public and private investments and improvements to the country\u2019s electricity sector, according to a statement. The agreements were signed on the sidelines of the World Bank Spring meetings in Washington. Where\u2019s the money [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":77052,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[593],"tags":[1610,747,248,11,93,161],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-finance","tag-climate-investments","tag-development-finance","tag-electricity","tag-enterpriseclimate","tag-jordan","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"7a9cf804-3e5c-4de2-a194-340aa42d3ac0","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/1055.jpeg","photo_position":"above","related_issue":[77044],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Jordan lands USD 650 mn loan agreements from the World Bank to boost climate investments and electricity sector - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/04\/19\/jordan-lands-usd-650-mn-loan-agreements-from-the-world-bank-to-boost-climate-investments-and-electricity-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jordan lands USD 650 mn loan agreements from the World Bank to boost climate investments and electricity sector\" \/>\n<meta property=\"og:description\" content=\"Jordan and the World Bank (WB) have signed two loan agreements worth USD 650 mn to finance two projects targeting climate responsive public and private investments and improvements to the country\u2019s electricity sector, according to a statement. 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