BAKU, Azerbaijan, March 6. The European Bank for Reconstruction and Development (EBRD) is providing a loan of up to $ 8.8 million (8.2 million euros) to KbW Investments Jordan to enhance street lighting coverage in 14 villages in southern Jordan, Trend reports.
The loan will finance an innovative energy performance contract between KbW and the Ministry of Energy and Mineral Resources to install 45,000 energy-efficient LED lights.
This investment aims to replace outdated street lights and extend lighting coverage in underserved areas, improving public safety, mobility, and access to economic opportunities. The project is expected to increase street lighting coverage from 60% to 100%, benefiting over 300,000 people. Additionally, it will reduce energy consumption by 50% and lower annual CO2 emissions by approximately 4,600 tons.
The EBRD will also provide a 0.4 million euro FINTECC grant to support the installation of energy-efficient equipment. KbW Investments Jordan has been a leader in energy performance contracts for street lighting in the country, promoting sustainable energy solutions since 2016.
Since its operations began in Jordan in 2012, the EBRD has invested nearly 2.3 billion euros across 76 projects.