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Ammon News - Deputy Prime Minister and Minister of Local Administration, Tawfiq Krishan, is scheduled to inaugurate a meeting to highlight Municipal Energy Efficiency Programme on Thursday, at port city of Aqaba, organized by the Cities and Villages Development Bank (CVDB), in cooperation with the European Investment Bank (EIB) and the consultancy company.

In a statement on Wednesday, CVDB Director General Osama Azzam, said the event aims to inform Jordan's mayors on the project's importance, which would increase efficiency of municipal buildings to reduce electricity consumption, install solar panel systems, launch solar energy plants and establish fast charging stations for electric vehicles in major cities and on highways.

In 2019, Azzam said the CVDB signed an agreement with EIB, worth 45-million euros to financing the programme and renewable projects for the municipal sector.

The project's total cost is estimated at 90-million euros, as CVDB allocated an amount of 45-million euros for its funding, he added.

According to Azzam, the CVDB seeks to provide funding sources at an encouraging price to alleviate the municipalities' financial burdens by reducing costs of their electricity bills, which constitute about 15% of the municipal budget, and mitigating the environmental impacts of traditional power production.