Translated version of this PSD: Arabic
The EBRD is considering establishing the Jordan Sustainable Energy Financing Facility (JorSEFF) Framework to the amount of up to EUR 30 million. The funds will be made available to Participating Financial Institutions (“PFIs”) in Jordan for on-lending to eligible private sector sub-borrowers for sustainable energy investments.
The project will promote penetration of energy efficient and renewable energy technologies, appliances and equipment in Jordan through stimulating demand and raising awareness of the benefits of investments in such technologies
The transition impact of the project is expected to derive from promoting the expansion of energy efficiency and renewable energy lending in Jordan. It will have positive demonstration effects particularly with respect to utilising financial intermediaries, for energy efficiency investments. The project will demonstrate the benefits of rational energy utilisation through improved industrial competitiveness in light of rising energy costs.
The project will also contribute to the development of the internal capacity of the PFIs for financing energy efficiency and renewable energy projects.
Qualifying Financial Institutions in Jordan.
Credit lines, which will be co-financed by the European Investment Bank (“EIB”) and Kreditanstalt für Wiederaufbau (“KfW”).
EUR 30 million.
Categorised FI. All PFIs under the JorSEFF will be required to comply with the EBRD's Performance Requirements 2 and 9 and submit annual environmental and social reports to the EBRD. Sub-borrowers financed through the facility will be required to comply with national requirements for environment, health and safety and labour standards and the eligibility criteria for EE and RE projects.
The project will be supported by a comprehensive TC programme to provide implementation support to the PFIs and to their clients.
A grant of EUR 1.15 million is provided by the European Union Neighbourhood Facility – South (EU NIF- South), and the EBRD South and East Mediterranean (SEMED) Multi Donor Fund. A Project Consultant will be providing support in the design and successful implementation of the facility. Additionally, a Verification Consultant (VC) will ensure that sub-projects were successfully implemented.
The facility is complemented by EUR 4.5 million in non-TC grant funding from the EU NIF-South for investment incentives to the PFIs and to their clients.
Melis Ekmen Tabojer, Senior Banker, Financial Institutions Group, EBRD – TabojerM@ebrd.com
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