Jordan GCF Readiness Program 2018-2019

If green growth benefits are to materialize, implementation barriers need to be addressed. In particular, the NGGP has identified key challenges relevant to green finance in Jordan. For example, the lack of financing mechanisms that can support the implementation of green projects is a main barrier. There are several green financing mechanisms established in Jordan (e.g. Jordan Renewable Energy and Energy Efficiency Fund), which can support small scale projects, but these mechanisms do not appear to have the capacity to support country priorities and high level development projects due to 1) Lack of financing resources; and 2) Lack of technical capabilities. This project comes to contribute to bridging this gap through making a better use of one of the available funding sources which is the GCF through: accreditation of a Jordanian direct access entity, development of a pipeline of investment-ready project concepts, and improvement of Government capacity to develop bankable project proposals.