The loan to Jordan District Energy will fund the construction of the country’s first district cooling and heating plant.
Planned to be built at the Abdali Urban Regeneration development in Amman, the new facility will cut energy consumption by 41% per year and reduce CO2 emissions by 13,700 tonnes annually.
Jordan District Energy acting general manager George Amireh said: "We greatly appreciate the EBRD’s cooperation in working with us to meet the new downtown area’s cooling and heating needs in a sustainable manner."
EBRD president Suma Chakrabarti said: "This project underlines our commitment to supporting the energy sector in Jordan.
"The new plant will help make the Abdali development energy efficient and thereby sustainable. What is being achieved here will set the standard for the construction of similar commercial developments in the future and will also raise the profile of Amman as a business hub."
In 2013, the EBRD provided a $80m loan for the Abdali Mall retail and entertainment centre, which serves the Abdali Urban Regeneration development.
The bank has to date invested €203m in seven projects in Jordan covering several sectors.
Image: Chakrabarti and Amireh shake hands. Photo: Courtesy of the European Bank for Reconstruction and Development.
