Ammon News - The Ministry of Planning and International Cooperation signed a loan agreement and a guarantee agreement with the European Bank for Reconstruction and Development (EBRD) worth $56.5 million (about 54.7 million euros) to support the implementation of the North Station and Electricity Transmission Lines Project - the Green North Station.

Director General of the National Electric Power Company (NEPCO), Eng. Sufyan Al-Batayneh, signed a soft financing agreement, while Minister of Finance Dr. Abdul Hakim Al-Shibli signed the guarantee agreement for this financing, in the presence of Minister of Planning and International Cooperation Zeina Toukan, Minister of Energy and Mineral Resources Saleh Kharabsheh, and the European Union Mission in Amman.

The two agreements were signed on behalf of the EBRD by Gretchen Perry, Director of the Bank’s Office in Amman and Regional Director responsible for the Bank’s operations in the Eastern Mediterranean region.

The ministers thanked the bank for its support for this important project, which is in line with the priorities of the Economic Modernization Vision and supports the ambitious goals of increasing the use of renewable energy by 2030.

Also, the ministers extended thanks to the European Union for securing an investment grant worth 12.4 million euros, in addition to a technical grant worth 2.2 million euros to assist in implementing this project, and the importance of the strategic and comprehensive partnership with the European Union was emphasized in opening up horizons and areas for cooperation between the two sides.

We are proud to support NEPCO, in collaboration with the European Union, in developing the electricity transmission infrastructure and strengthening the energy sector in Jordan, contributing to enhancing regional connectivity and supporting the green transformation in the Kingdom, in line with the Economic Modernization Vision, said Gretchen Perry, EBRD Regional Director for the Eastern Mediterranean.