Jordan Signs $250 Million Finance Agreement with World Bank for Water Sector Efficiency Project
AMMAN: Jordan’s Minister of Planning and International Cooperation, Zina Toukan, and World Bank Country Director for the Middle East Department, Jean-Christophe Carret, have signed a $250 million finance agreement for a water sector efficiency project in Jordan. The project aims to enhance water sector services and efficiency by rehabilitating water distribution networks, reducing wastage rates, improving energy efficiency, and implementing a drought management system.
The finance agreement includes $200 million in soft loans from the International Bank for Reconstruction and Development and $50 million in grants from the Global Concessional Financing Facility. This funding will support the government’s efforts to address the water crisis in Jordan and achieve the reforms outlined in the executive program for the Economic Modernization Vision 2023-2025.
Jordan is one of the most water-scarce countries in the world, and the water crisis has been undermining the country’s economic and human development. The investment from the World Bank is the first stage in a series of projects aimed at improving the financial sustainability of the water sector and strengthening the country’s resilience to climate shocks.
The water sector efficiency project has several objectives. Firstly, it aims to reduce water loss rates indefinitely. By rehabilitating water distribution networks and implementing advanced technologies, the project will minimize leaks and improve the overall efficiency of water delivery. This will help ensure that every drop of water reaches its intended destination, benefiting both consumers and the environment.
Secondly, the project focuses on boosting energy efficiency in the water sector. Water pumping stations consume a significant amount of energy, and by implementing energy-efficient technologies, the project aims to reduce energy consumption and lower the costs of delivering water. This will not only save money but also contribute to environmental sustainability by reducing carbon emissions.
Furthermore, the project aims to develop a robust drought management system. Jordan is prone to droughts, and it is crucial to have effective measures in place to mitigate the impact of water scarcity during these periods. The project will work on implementing advanced water management techniques, such as water recycling and rainwater harvesting, to ensure water security and preserve water resources.
The finance agreement between Jordan and the World Bank is a testament to their ongoing partnership in promoting reform and development efforts. Minister Zina Toukan commended the World Bank Group for its support and emphasized that the project aligns with the government’s priorities outlined in the Economic Modernization Vision 2023-2025. The project will not only improve the efficiency of the water sector but also contribute to Jordan’s overall economic growth and development.
In conclusion, the $250 million finance agreement between Jordan and the World Bank for the water sector efficiency project is a significant step towards addressing the water crisis in Jordan. By rehabilitating water distribution networks, reducing wastage rates, improving energy efficiency, and implementing a drought management system, the project aims to enhance water sector services and ensure the sustainable use of water resources. This investment will not only benefit the people of Jordan but also contribute to the country’s economic growth and resilience to climate shocks. The ongoing partnership between Jordan and the World Bank demonstrates their commitment to promoting reform and development efforts in the region.