World Bank provides $32 million for energy, agricultural sectors in Jordan

31-03-2024 11:53 AM

Ammon News - The World Bank provided Jordan with more than $32 million since the beginning of 2024 for two projects that strengthen the electricity and the agriculture sectors.

In the electricity sector efficiency and supply dependency program using the Program for Results financing tool, which the bank finances with a value of $250 million for the National Electric Power Company (NEPCO), $85.1 million has been disbursed to date after transferring $22 million in 2024, according to data from the bank.

The data, which are reported by Al-Mamlaka, showed that approximately $165 million remained under disbursement until the results of the project’s implementation and its designed goal are achieved, which enhances the efficiency of the electricity sector in Jordan and maintains renewable energy supplies connected to the electrical grid.

The World Bank indicated that the NEPCO achieved savings in financial costs and additional revenues amounting to $32 million by the end of last year 2023, while Jordan maintained sufficient supplies of renewable energy sources within the electricity supply mix in terms of receiving a generation of 3525.5 gigawatts per hour for the NEPCO from solar and wind energy plants.

As for the program to enhance the agricultural sector’s resilience, value chain development, and innovation (ARDY) using the Program for Results financing tool, which the bank finances with a value of $95.6 million; The volume of transfers for the project has reached $34.1 million to date, after $10.3 million was disbursed in 2024.

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