MR3: West Irbid Networks (F. Wastewater Project)

repaying

An EBRD loan of EUR 25 million, to be co-financed by investment grants of EUR 20 million from the EU's MADAD Fund, USD 2.5 million from the Global Concessional Finance Facility and EUR 5.9 million from the EBRD Shareholders Special Fund, to the Hashemite Kingdom of Jordan, approved by the Bank in 2017 and of which implementation is on-going. The existing and proposed additional funding will finance the construction of a wastewater network in 15 towns in West Irbid governorate, enabling the towns to connect to the wastewater network including to wastewater treatment plants (the Project). The transaction is a part of the Bank's wider engagement with the Water Authority Jordan (WAJ), aimed at developing and implementing a comprehensive wastewater investment programme in order to resolve the country's current issues in the sector, caused by the rapid population growth, including an influx of Syrian refugees, which placed unprecedented strain on the wastewater system. In 2024, the Bank seeks to provide a USD 30 million loan increase from the original loan amount of EUR 25 million, in order to close the financing gap that arose due to global price increases, the depreciation of the EUR against USD and an increase of the project coverage within the same towns.