The European Bank for Reconstruction and Development (EBRD) has offered $30m in loan to Jordan District Energy to promote energy efficiency in Jordan.
The loan will be used to fund the construction of a cooling and heating plant, which is the first of its type in the country.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
To be built at the Abdali Urban Regeneration development in Amman, the new plant is expected to reduce energy consumption by 41% and reduce CO2 emissions by 13,700 tonnes annually.
Jordan District Energy acting general manager George Amireh said: "We greatly appreciate the EBRD’s cooperation in working with us to meet the new downtown area’s cooling and heating needs in a sustainable manner."
EBRD president Suma Chakrabarti said: "This project underlines our commitment to supporting the energy sector in Jordan.
"The new plant will help make the Abdali development energy efficient and thereby sustainable. What is being achieved here will set the standard for the construction of similar commercial developments in the future and will also raise the profile of Amman as a business hub."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataEarlier in 2013, EBRD provided a $80m loan for the Abdali Mall retail and entertainment centre, which serves the Abdali Urban Regeneration development.
To date, the bank had invested €203m in seven projects in Jordan covering several sectors.
Image: Chakrabarti and Amireh shake hands. Photo: Courtesy of the European Bank for Reconstruction and Development.
