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GCF GEFF Regional - Jordan - Bank Al Etihad



Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

18 Jan 2022



PSD disclosed:

18 Jan 2022

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Project Description

Provision of a senior unsecured loan to Bank Al Etihad of up to USD 10 million, under the GCF-GEFF Jordan regional Programme, of which up to USD 500,000 is expected to be co-financed by the Green Climate Fund ("GCF") under the same conditions.  

Project Objectives

The EBRD loan will enable Bank Al Etihad to support on-lending to eligible private sector commercial sub-borrowers for investments in high performance technologies and services supporting green economy transition.

Transition Impact

ETI score: 70

The project supports the Green TI quality by facilitating the direction of funding towards climate mitigation and adaptation technologies and services that will drive the transition to environmentally sustainable, low-carbon and climate-resilient economies.

Client Information


Bank Al Etihad ("BAE") is a universal commercial bank and the third largest in Jordan with market shares of 7.6% and 8.9% in terms of assets and loans as at H1 2021. Bank Al Etihad was established in 1978 and is listed on the Amman Stock Exchange. BAE serves to corporate, SME, and retail clients through its 52 branches across Jordan.

EBRD Finance Summary

USD 9,500,000.00

Up to USD 10 million, out of which up to USD 9.5 million equivalent to be provided by EBRD in JOD and up to USD 500,000 to be co-financed by Green Climate Fund ("GCF") in USD.

Total Project Cost

USD 10,000,000.00


The project offers a combination of longer-term financing and technical expertise into a package that promotes targeted investment in sustainable energy in Jordan.

Environmental and Social Summary

Categorised FI (ESP 2019). Bank Al Etihad has been satisfactorily implementing the Bank's E&S requirements under existing exposure and has submitted regularly Annual Environmental Reports. The bank will be required to continue to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9, apply the EBRD's E&S Risk Management Procedures for SME and Micro Loans and report annually to the EBRD on implementation of the Procedures and the PRs.

Technical Cooperation and Grant Financing

Bank Al Etihad is expected to benefit from the support of the grant resources from the European Union, Green Climate Fund and EBRD Shareholders' special fund. Donor funds will support a comprehensive technical assistance programme on a programme level to provide implementation support to Bank Al Etihad and its customers, and verification of the outcome of completed projects. A non-TC grant from the EU is also expected to provide investment incentives to end borrowers.

Company Contact Information

Wasim Salfiti
+962 6 560 7011
Shmeisani, Abdel Al Raheem Waked Street, Amman, Jordan

PSD last updated

18 Jan 2022

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email to get guidance and more information on IPAM and how to submit a request.


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