Amman: The European Investment Bank (EIB) will provide the Jordanian government with a 200-million-euro soft loan to finance the Amman-Aqaba water conveyance and desalination project.
The EIB pledged the loan at a donor conference held earlier this year to raise funds for the Aqaba-Amman Water Desalination and Conveyance Project (AAWDCP).
The loan will be part of the Jordanian government's JD250 million ($352 million) contribution to the project which will help pump 300 million cubic meters of desalinated water from Aqaba to Amman and other regions across the country.
The agreement was signed by Minister of Planning and International Cooperation Zeina Toukan and Minister of Water and Irrigation Mohamed Najjar with EIB's Vice-President Gelsomina Vigliotti, in the presence of the European Union Ambassador to Jordan Maria Hadjitheodosiou.
Toukan said that the agreement is the project's first source of funding and noted coordination with donors to carry out pledges for the vital project.
She expressed gratitude to the EIB for the funding and reaffirmed Jordan's "historical ties" with the institution while highlighting the significance of the project for both water security and overall economic development.
Minister Najjar indicated that the EIB contributes to several projects in Jordan and has funded an environmental impact assessment study for the project.
For her part, Vigliotti said "Investing in water is an investment in the future, and Jordan will be able to adapt to climate change while ensuring environmental sustainability by utilizing renewable energy potential to complete this ambitious project."
She added that the successful partnership between the Jordanian government, its international partners, and the EIB will provide funding for investments that will fundamentally transform the country's water sector and provide freshwater resources.
For her part, Ambassador Maria Hadjitheodosiou stated that Team Europe supports global efforts to adapt to climate change, highlighting the significance of funding for the national carrier project and the scope of support the European Union has given Jordan in terms of enhancing water security.
