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Ammon News - Association of Banks in Jordan (ABJ) on Sunday signed a cooperation agreement with Green Action in Enterprises (GAIN) project in Jordan, commissioned by German's Federal Ministry for Economic Cooperation and Development (BMZ), is carried out by German Agency for International Cooperation (GIZ).

The agreement was signed by the ABJ director general, Dr. Maher El Mahroug, and GAIN Project Manager, Elisaveta Kostova.

According to a ABJ statement, the agreement comes within the framework of the association’s keenness to promote green financing concept and increase related awareness for banks operating in the Kingdom.

This drive comes within the framework of the Central Bank of Jordan (CBJ)'s policy that aims to issue a strategy for green economy and environmental risk management in Jordan, the statement noted.

The agreement aims to build the banks' employee capacity by providing specialized workshops, training programs and manuals, primarily aimed to offer appropriate credit policies and assessment processes, in addition to enabling banks to deal with green financing risks, the ABJ said.

Joint cooperation areas also cover facilitating access to green financing by conducting a practical analysis of related policies and practices in Jordan's industrial sector and evaluating the ABJ's role in promoting this financial activity, the statement noted.

The statement also affirmed support to developing ABJ's capabilities seeks to raise awareness about the importance of green financing in supporting the Kingdom's industrial sector and helping banks to developing their eco-investing policies.