Green buildings project agreement signed
shahennews
The Jordanian government, the International Finance Corporation (IFC), and the Greater Amman Municipality (GAM) have signed a cooperation agreement to implement the Green Buildings project in Jordan. The project will receive funding of $575,000, with $500,000 provided as a grant from the IFC and an in-kind contribution of $75,000 from the GAM.
The agreement was inked by Minister of Planning and International Cooperation Zeina Toukan acting for the Jordanian government, Mayor of Amman Yousef Al-Shawarbeh representing the project implementing entity, and the Managing Director of the IFC, the investment arm of the World Bank, Makhtar Diop on behalf of the donor institution.
The project aims to promote the concept of sustainable buildings by focusing on improving policies and regulatory frameworks for green buildings in Amman, raising community awareness and capacity for green buildings. In addition, it will issue certificates for green buildings, with a focus on the “EDGE” design certification for greater efficiency, as indicated in a ministry statement on Thursday.
Prior to the signing of the deal, a meeting was held with Diop and his accompanying delegation to delve into current and future collaboration between Jordan and IFC, as well as ways to bolster and expand the institution’s portfolio in Jordan.
The meeting emphasized the significance of building on the IFC’s investments in Jordan over the past few decades, which have amounted to more than two billion dollars. These investments have helped to implement priority projects and provide financial and technical support to several private sector companies in various domains, including renewable energy, industry, pharmaceuticals, banks, pioneering projects, and startup institutions.
The meeting focused on priority projects within the Economic Modernization Vision’s executive program that are currently being prepared. They discussed the potential for the Corporation to support these projects, including water desalination, water transportation, infrastructure, water loss reduction, logistics, and schools.
Additionally, they highlighted the importance of consulting services to improve the business environment and the requirement to strengthen and advance the partnership department between the public and private sectors in the Ministry of Investment. The meeting also emphasized the crucial role of the IFC in providing technical support for the preparation and execution of public-private partnership projects.
According to the statement, Toukan thanked the international corporation for its pledges to provide investment financing amounting to $400 million to the developer of the National Water Carrier Project, expressing hope that the Corporation would mobilize additional funding through grants for the project and explore the possibility of obtaining more funding from climate change funds.
The Minister underscored the importance that the Jordanian government places on expanding the headquarters of the IFC’s permanent mission in Amman into a regional office for the Middle East, Pakistan, and Afghanistan.
This move is seen as a means of continuing to enhance cooperation and partnership with the Kingdom, as well as strengthening Jordan’s strategic role in the region. In addition, it aims to promote partnerships between the public and private sectors in sustainable infrastructure projects, particularly those that address climate change and water scarcity, and to encourage financial inclusion and an advanced entrepreneurial environment in Jordan. The statement emphasized the significance of this in attracting international expertise to support and expand investments in Jordan and the region.
Diop, for his part, expressed admiration for the robust cooperation between Jordan and the IFC, highlighting that the Kingdom will experience increased activities with the Corporation’s support.
Moreover, he confirmed the corporation’s dedication to supporting Jordan in attaining its developmental priorities in the forthcoming phase, with the expectation of expanding future collaboration to maximize the utilization of financing tools and opportunities available through the institution’s various financial windows. Additionally, he pledged to assist in executing the priorities of public-private partnerships.
//Petra// WH
