European Investment Bank to loan 50 mln USD to support Jordan's energy investments

AMMAN, Oct. 17 (Xinhua) -- The European Investment Bank (EIB) on Thursday signed an agreement to provide a loan of 45 million euros (50 million U.S. dollars) to Jordan's Cities and Villages Development Bank (CVDB) to support investments in the country's renewable energy and energy efficiency infrastructure.

CVDB will allocate additional 45 million dinars (63 million dollars) for the same purpose, according to a statement by the EU Mission in Jordan.

A total of 100 municipalities all over Jordan will benefit from the European financing, it said.

The loan will have a substantial impact on the sustainable development of municipalities in Jordan, especially those most affected by the refugee crisis and far from economic centers.