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Signature(s)

Amount (.*)
€ 449,101,255.53
Countries
Sector(s)
Jordan : € 449,101,255.53
Water, sewerage : € 449,101,255.53
Signature date(s)
2/10/2024 : € 49,101,255.53
18/07/2024 : € 400,000,000
(*) Including a € 49,101,255.53 Investment Grants provided by the PUBLIC ENTITY(IES)

Summary sheet

Release date
30 July 2024
Status
Reference
Signed | 18/07/2024
20230145
Project name
Promoter - financial intermediary
JORDAN WATER SECURITY AND CLIMATE ADAPTATION
AQABA WATER COMPANY,JORDAN WATER - MIYAHUNA LLC,WATER AUTHORITY,YARMOUK WATER LLC
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 450 million
EUR 1000 million
Location
Sector(s)
  • Water, sewerage - Water supply; sewerage, waste management and remediation activities
Description
Objectives

The current Results-Based Loan (RBL) will finance small scale investments aiming to reduce Non-Revenue Water (NRW), increase water supply and improve sanitation services throughout Jordan.

The aim is to improve water security and climate adaptation, in line with the Government of Jordan's National Water Strategy, Non-Revenue Water Strategy and Financial Sustainability Roadmap by applying Results-based financing.

Additionality and Impact

The Results-Based Loan will finance small scale investments to reduce Non-Revenue Water, increase water supply as well as sanitation measures throughout Jordan. It will therefore increase the climate resilience of the Jordanian water sector and improve public health. It will mitigate market failures by financing drinking water infrastructure generating positive externalities, which are not internalised and hence require public intervention. The operation thus contributes significantly to the objectives of: i) Jordan's National Water Strategy ii) the EU policies and priorities, including the EU's New Agenda for the Mediterranean, the EU-Jordan Partnership Priorities, regional and country-specific Multi-Annual Indicative Programmes, the objectives of the Flagship 11 for water services as part of the Economic and Investment Plan, and the Team Europe Initiative for sustainable water management in Jordan, and iii) the EIB Climate Bank Roadmap and Adaptation Plan. The benefits of the operation include increased availability of water for domestic, municipal and industrial uses. Bank's financial and non-financial contribution to the Project is excellent. The Bank is offering a concessional financing package combining loans and grants (to be sought) for the operation. In addition, the Bank is providing technical expertise in the origination and structuring of the proposed operation. This will be the first RBL for the Bank in Jordan, which is fully adapted to the current needs in water sector

Environmental aspects
Procurement

The project will have a number of positive effects on the environment: (i) Improvement of potable water services throughout the country; (ii) Adaptation to climate change impacts by reducing water losses due to leakages and thus a reduction of non-revenue water; (iii) Adaptation to climate change impacts by providing valuable water for re-use in irrigation from the treated wastewater; (iv) Reduced energy consumption in the water supply system by increasing energy efficiency and reducing leakages of the water supply system. Inside the EU, the project components would be categorised under Annex II of the environmental impact assessment (EIA) Directive 2011/92/EU (as amended by the Directive 2014/52/EU). The compliance with principles of relevant environmental EU legislation and EIB's Environmental & Social Standards as well as climate change aspects will be further examined during appraisal. The EIB will assess the social aspects of the project during appraisal to ensure adherence to its social standards.

The promoter shall ensure that the project implementation complies with the EIB's Guide to Procurement.

Under Global Europe NDICI guarantee

Under EFSD+ Guarantee

Milestone
Under appraisal
Approved
Signed
13 December 2023
18 July 2024
Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - JORDAN WATER SECURITY AND CLIMATE ADAPTATION
Publication Date
14 Aug 2024
Document language
Main Topic
Lending
Document Number
181887937
Document Focus
Environmental Information
Project Number
20230145
Sector(s)
Countries
Publicly available
Download now

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