In Jordan, the European Investment Bank (EIB) has signed an agreement with Cities and Villages Development Bank (CVDB) to support the implementation of the CVDB – Municipal Energy Efficiency Programme.
A technical assistance cooperation agreement of €1.4 million ($1.6 million) in grant funding signed by the two banks will help to boost energy efficiency across Jordanian municipalities.
EIB will provide CVBD with advisory services that are complementary to the €45 million ($53.1 million) EIB loan provided to the CVDB in October last year.
The advisory services will include conducting needed technical studies, development of the pipeline of sub-projects of the programme and supporting its management.
The project’s pipeline will include sub-projects that improve municipal services buildings and lighting infrastructure throughout Jordan, the refurbishment and energy efficiency upgrade of public buildings and the installation of solar panel facilities on buildings, solar farms and public lighting investments.
EIB is providing the grant through its Economic Resilience Initiative (ERI), which is designed to strengthen EU Southern Neighbouring countries’ ability to address key challenges.
Jordan has set a target to reduce energy use by 20% and improve the contribution of renewables in electricity generation to 15%.
Osama Al-Azzam the DG of CVDB added that this grant will provide consultancy and technical support services that will contribute to the implementation of the project in accordance with best practices and for the interest of Jordanian municipalities in order to reduce the electric energy bill and reduce the financial burdens on the municipalities.