- EBRD emergency liquidity of JOD 1.5 million to Jordan District Energy
- Facility to cover daily expenses and liquidity of private energy utility
- Support under EBRD Resilience Framework in response to coronavirus pandemic
In order to address the urgent liquidity needs of Jordan District Energy (JDE) caused by the impact of the coronavirus pandemic, the European Bank for Reconstruction and Development (EBRD) is providing a JOD 1.5 million (€1.74 million) emergency facility to the private energy utility.
The financing will help cover day-to-day expenses such as payroll, electricity and fuel. The EBRD funds come under the Bank’s €4 billion Resilience Framework in support of existing clients affected by the crisis.
JDE is the first private energy utility for district heating and cooling in the southern and eastern Mediterranean region. It owns and operates Jordan’s – and the region’s – first district energy plant. The EBRD co-financed the construction of the US$ 100 million plant in 2014.
The new financing agreement was signed by Philip ter Woort, EBRD Regional Head of Eastern Mediterranean and Amer Al Fayez, Chairman of JDE’s Board of Directors.
Since the start of its operations in Jordan in 2012, the EBRD has provided over €1.4 billion in 54 projects to the country’s economy. The Bank’s priorities in Jordan are the support of sustainable energy, financing private enterprises and promoting infrastructure reform.