Jordan’s Water Sector Efficiency Project has officially sealed a $250 million finance agreement with the World Bank. The agreement got signed between Zina Toukan, the country’s Minister of Planning and International Cooperation, and Jean-Christopher Carret, Country Director for the Middle East Department, World Bank.
As per official reports, the project’s agreement deal calls for $200 million in the form of soft loans from the International Bank for Reconstruction and Development. Alongside, $50 million in grants from the Global Concessional Financing Facility (GCFF). As it was launched in 2016, the GCFF offers concessional financing, especially to middle-income countries that host a large number of refugees. Thus, the project has placed focus on areas with higher refugee populations. This, as a whole, will provide benefits to both the host community and refugees alike.
Jordan’s Water Sector Efficiency Project Priority Focus
As it stands, Jordan is known to be one of the most water-scarce countries, globally. According to reports, it only has 97 m3 of available water per capita, annually. By 2040, the per capita water resources are predicted to decrease by 30%. Therefore, and by extension, the project specifically aims to address and mitigate the water crisis in the region. By design, Jordan’s Water Sector Efficiency Project targets to rehabilitate water distribution, as well as improve drought management systems. In addition to cutting wastage rates and enhancing efficiency. Overall, the water sector efficiency development venture also aims to indefinitely reduce water loss rates. Moreover, it strives to lower the cost of water delivery to pumping stations.
While speaking about the project, Zina Toukan said it will significantly assist the Jordan Government achieve its priorities. As a result, the Minister highlighted that the project will greatly contribute to the Economic Modernization Vision 2023-2025. Furthermore, Zina expressed delight over the partnership between the World Bank and Jordan.
Jordan’s Water Sector Efficiency Project is an investment to improving financial sustainability, said World Bank’s Country Director. Carret further said that it will strengthen as well as enable Jordan’s resilience to climate shocks.