Jordan SEFF

Location:

Jordan

Project number:

44911

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

17 Dec 2014

Status:

Board Approved

PSD disclosed:

14 Nov 2014

Translated version of this PSD: Arabic

Project Description

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

Transition Impact

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.

The Client

Qualifying Financial Institutions in Jordan.

EBRD Finance

Credit lines, which will be co-financed by the European Investment Bank (“EIB”) and Kreditanstalt für Wiederaufbau (“KfW”).

Project Cost

EUR 30 million.

Environmental Impact

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.

Technical Cooperation

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.

Company Contact

Melis Ekmen Tabojer, Senior Banker, Financial Institutions Group, EBRD – TabojerM@ebrd.com

 

Business opportunities

For business opportunities or procurement, contact the client company.

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