Jordan: EBRD, 100 mln dollars for power plant near Amman

First loan for energy sector in southern Mediterranean

19 December, 13:37

(ANSAmed) - BRUSSELS, DECEMBER 19 - The European Bank for Reconstruction and Development (EBRD) is providing a 100 million dollars loan for the construction and development of the Al Manakher power plant in Jordan, in a transaction aimed at helping to address the country's acute energy shortages and ensuring the security of future energy supplies and part of the EBRD's strategy to support the modernisation of the Jordanian economy. According to the Enpi website (www.enpi-info.eu) the construction of the new plant, located 15km east of the Jordanian capital Amman, is urgently needed to provide extra capacity to prevent blackouts at times of peak demand and to secure short-term electricity supplies to Jordan at a time when demand is growing rapidly. In the medium term it will also help prepare the Jordanian electricity grid for the greater use of renewable energy sources.

''We are delighted - said Nandita Parshad, Director of Power and Energy for the EBRD - to be financing the EBRD's first power project in Jordan and indeed in the southern and eastern Mediterranean. This is a region where demand for power is growing fast and it is crucial to secure private sector investment to deliver this vital infrastructure''.

By 2015, the EBRD expects to be investing up to 2.5 billion across the southern and eastern Mediterranean region which comprises Jordan, and also Morocco, Egypt and Tunisia. (ANSAmed)
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