On Sunday, May 15, 2022, ABJ signed a cooperation agreement with the project to promote green activities in industrial establishments in Jordan, which is implemented with the support of the Federal Ministry for Economic Cooperation in Germany through the German Cooperation Agency GIZ.

The signing of the agreement comes within the framework of the association’s keenness to promote the concept of green finance and increase awareness about it among banks operating in the Kingdom. This comes within the framework of the Central Bank of Jordan’s policy as it is heading to issue a strategy for green finance and environmental risk management. The agreement aims to build capacity for bank employees through specialized workshops, seminars and training programs, providing reference standards and specialized guides on the concepts of green finance and how to build appropriate credit policies for this type of financing and credit evaluation processes in addition to enabling banks to deal with the risks of green finance.

The areas of cooperation between the two parties included facilitating access to green finance by conducting a practical analysis of its policies and practices in the Jordanian industrial sector, evaluating the role of ABJ in promoting green finance and supporting and developing its capabilities to raise awareness about its importance in supporting the industrial sector and developing and designing content training in addition to supporting banks in developing their related policies.

The agreement was signed on the first side by ABJ Director General, Dr. Maher Al-Mahrouq, while it was signed by the Director of the GAIN Project, Ms. Elisaveta Kostova, on the second side.

It is noteworthy that the project to promote green activities in industrial facilities in Jordan was launched in July 2020 and will continue until June of 2023. It is implemented in partnership with the Ministry of Environment and other partners from the public and private sectors with the aim of providing conditions and an advanced framework for the private sector in order to preserve the environment and the production which provides resources.

The project, in partnership with the concerned authorities and decision-makers related to such activities, aims to “promote green activities in industrial establishments” towards a green economy in specific industrial sectors that are among the most vulnerable to environmental problems. This contributes to preserving natural resources in addition to exploiting opportunities for economic growth through environmentally friendly investments and job creation.