EU supports Jordan’s energy sector with €72m loan

The EU bank has approved a loan worth €72 million (£51m) to support the energy sector in Jordan. It will finance the nation’s NEPCO Green Corridor programme, which was established […]

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By Priyanka Shrestha

The EU bank has approved a loan worth €72 million (£51m) to support the energy sector in Jordan.

It will finance the nation’s NEPCO Green Corridor programme, which was established to reinforce the nation’s electricity network for integration of more renewable capacity and boost reliable supply.

The project is also expected to contribute to reducing carbon emissions and will run for three years.

Dario Scannapieco, Vice President of the European Investment Bank said: “Our aim is to help Jordan improve its socio-economic infrastructure. By securing the supply of energy, the NEPCO Green Corridor project will contribute to economic development and poverty reduction through continuous access to essential power supplies in Jordan.

“The project is highly complementary to ongoing investments in renewable energy as the ability to bring renewable energy to market depends on adequate transmission infrastructure.”

Jordan has set a target of generating 10% of renewable energy by 2020.