AMMAN: Jordan’s Minister of Planning and International Cooperation Zina Toukan and World Bank Country Director for the Middle East Department Jean-Christophe Carret signed on Sunday a $250 million finance agreement for a water sector efficiency project in Jordan.
The deal calls for $200 million in soft loans from the International Bank for Reconstruction and Development and $50 million in grants from the Global Concessional Financing Facility, Jordan News Agency reported
The project seeks to assist the government in enhancing water sector services and efficiency by working to rehabilitate water distribution networks, cut wastage rates, and improve both energy efficiency and the drought management system.
The project intends to reduce water loss rates indefinitely, boost energy efficiency, lower the costs of delivering water to water pumping stations, and develop water security measures that will preserve water resources and increase their efficiency of use.
Toukan praised the World Bank Group for its ongoing partnership with the Jorda to promote reform and development efforts. She said that the project will help the government achieve reforms and priorities outlined in the executive program for the Economic Modernization Vision 2023-2025.
Toukan praised the World Bank Group for its partnership with Jordan to promote reform and development efforts. She said that the project will help the government achieve reforms and priorities outlined in the executive program for the Economic Modernization Vision 2023-2025.
Carret said that Jordan is one of the most water-scarce countries in the world, with a water crisis undermining the country’s economic and human development.
He said that the investment is the first stage in a series of projects to improve the financial sustainability of the water sector, as well as strengthen the country’s resilience to climate shocks.
