Jordan: Tamweelcom Secures Green Financing for Climate-Resilience Projects

Source: Jordan News Agency

The European Bank for Reconstruction and Development, alongside the European Union and the Green Climate Fund, has announced a financing initiative for Jordan's microfinance institution, Tamweelcom, under the Green Economy Financing Program. This initiative, totaling $4 million, targets micro, small, and medium enterprises in the technology sector to address climate change impacts. 

The funding aims to raise awareness among borrowers about the importance of investing in green economy projects to combat and adapt to climate change effects. Moreover, it offers a "cash back" incentive for successful project implementation. Tamweelcom staff will undergo training on gender-sensitive green financing to address gender-specific barriers in both supply and demand. 

Mike Taylor, Director of Financial Institutions in the Southern and Eastern Mediterranean Region at the European Bank for Reconstruction and Development, emphasized the significance of this agreement in promoting green investments, particularly in small projects, fostering sustainability, and gender inclusivity.