Amman, Sep. 11 (Petra) – Vice President of the European Investment Bank (EIB), Gelsomina Vigliotti, underscored on Thursday the depth of the bank’s strategic partnership with the Kingdom, reaffirming its commitment to supporting Jordan’s economic and social development through targeted financing for vital sectors.
During her fourth official visit to Jordan, Vigliotti told the Jordan News Agency (Petra) that the EIB financing to Jordan since 1979 has exceeded $3.5 billion, supporting projects in infrastructure, energy, water, and small and medium-sized enterprises (SMEs), which are key drivers of economic growth and employment.
She noted that the bank prioritizes sustainable projects that deliver tangible results, with a focus on empowering both public and private sectors and addressing environmental and economic challenges, particularly in the water and energy sectors.
Vigliotti highlighted the bank’s adoption of innovative financing tools, including results-based financing in the water sector and the "Climate Bank" initiative, which promotes the green economy through renewable energy projects and carbon emission reduction. She also pointed to agreements with major local institutions to enhance the capacity of the banking sector to finance sustainable projects and assess climate risks.
The vice president emphasized the launch of an advanced digital tool that allows investors and institutions to assess project sustainability according to green economy standards, attracting private investments aligned with environmental and digital transformation objectives.
She stressed the importance of ongoing cooperation with the Jordanian government to align development and financing priorities, noting that the EIB offers concessional loans and additional grants from European Union institutions, providing Jordan with financial flexibility to implement strategic projects in water, energy, transportation, health, and education.
Vigliotti said the EIB financing has supported around 800 local companies, creating or maintaining more than 45,000 jobs, highlighting the social and economic impact of both direct and indirect financing.
On public sector support, she noted the bank’s focus on priority infrastructure projects, particularly in the water sector, using results-based financing to improve efficiency, reduce waste, and strengthen infrastructure. Activities include financing industrial interventions to improve water management and providing technical support to public institutions for policy and long-term planning.
Regarding the green economy, Vigliotti noted the $45 million guarantee agreement signed with Jordan Kuwait Bank to support local companies implementing sustainable projects and expressed the aim to expand this model to additional sectors. She also highlighted cooperation with the Central Bank of Jordan to integrate climate risk assessments into commercial banking operations in line with the Paris Climate Agreement.
Vigliotti reiterated that the strategic partnership with the Jordanian government ensures financial and technical support for national priorities while promoting sustainable development without imposing additional financial burdens. She stressed that the bank continues to prioritize sectors that directly impact citizens’ lives, including water, energy, transportation, health, and education, ensuring alignment with social justice and sustainability principles.
//Petra// AJ
