Jordan Requests $200 Million Loan for Electricity Sector Improvements
The Ministry of Planning and Cooperation in the Jordanian government is in talks with the World Bank for a $200 million loan to finance part of a project aimed at improving the efficiency of the country’s electricity sector.
The $1.2 billion project aims to improve the efficiency of the electricity sector through proposed activities aimed at reducing supply and operating losses for the National Electricity Company, as well as further improving the electricity tariff structure.
According to a report published by the World Bank, the Jordanian government will work to address the challenges in the electricity sector by launching a program to improve sector efficiency, supply security and financial feasibility for the period 2023-2030, which includes support for proposed activities. to maintain an adequate supply of electricity from renewable energy sources, in addition to rehabilitating and upgrading the main transmission facilities, to ensure the continued reliable operation of the transmission network.
The World Bank said in a report broadcast by Jordan’s Kingdom Channel that Jordan has made great progress in increasing the share of renewable energy in the electricity mix, as the total installed capacity of renewable energy (solar PV and wind) in transmission and distribution systems has rapidly increased to almost up to 1500 MW.
The World Bank’s board of directors is due to meet at the end of March to approve $200 million to fund part of the project, while the Jordanian government is committed to disbursing $867 million and the remaining $138 million through an unspecified third party.
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