According to a European Bank for Reconstruction and Development (EBRD) August 2022 press release, the Green Climate Fund (GCF) and the EU have approved for its local partner, Jordan’s Microfund for Women (MFW), a US$2.225 million Green Economy Finance Facility (GEFF) for micro, small and medium-sized enterprises (MSMEs) to promote green energy transition investments.
Boost competitiveness and innovation of women-led businesses
“We are proud of our continued partnership with the Microfund for Women in Jordan and for the first time under the GCF-GEFF regional framework. We hope that our support will boost the competitiveness and innovation of women-led businesses and increase access to finance, for more sustainable employment opportunities,” said Philip ter Woort, EBRD Director for the eastern Mediterranean region.
Clean and affordable energy in Jordan
This loan facility will also contribute towards the achievement of the Sustainable Development Goals (SDGs) with the region. In particular, this loan facility will support initiatives that work to achieve SDG7 (clean and affordable energy) and SDG13 (climate action) in Jordan.
“Through the Green Economy Financing Facility (GEFF), the Micro-Fund for women is offering today new financing opportunities to women and youth by supporting climate change actions. We also see this Fund as an opportunity for Jordan to become a leader on these themes in the Arab region, where many countries have accelerated their efforts in addressing climate change and green transition but where sustainability remains a challenge,” said Maria Hadjitheodosiou, The European Union Ambassador to Jordan.
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