Jordan Kuwait Bank held an official ceremony at its headquarters to announce the successful full allocation of proceeds from Jordan’s first-ever green bond, valued at USD 50 million, alongside the release of its first Sustainable Finance Report for 2024. These milestones represent major achievements in the bank’s ongoing journey toward sustainability and green finance.

The event brought together members of the Jordan Kuwait Bank Board-level Sustainability Committee, JKB CEO Haethum Buttikhi, representatives from the bank and the International Finance Corporation (IFC), along with its global partners, including the Canadian -IFC Blended Climate Finance Program and the Dutch-funded MENA Private Sector Development Facility.

The full allocation of proceeds from this landmark green bond marks a turning point not only for Jordan Kuwait Bank but for Jordan’s entire financial sector. All proceeds have been directed toward Sustainable Water and Wastewater Management projects across the Kingdom, contributing to Jordan’s national green growth objectives and aligning with the Economic Modernization Vision (2021–2025).

The launch of the 2024 Sustainable Finance Report reinforces the bank’s commitment to transparency and accountability. The report details how the proceeds were allocated and the environmental and social impacts achieved, while also outlining Jordan Kuwait Bank’s sustainable finance framework, built on leading international standards and practices. This approach reflects the bank’s dedication to advancing the United Nations Sustainable Development Goals and its belief in the vital role banks can play in addressing climate and environmental challenges.

The report was audited by Ernst & Young (EY), which confirmed that the allocation process met international green bond standards and that the funded projects have delivered measurable environmental impacts in sustainable water resource management.

This issuance stands as a market first in Jordan, achieving complete proceeds allocation and setting a precedent for the expansion of green finance tools and products. It also strengthens Jordan’s green capital market and enhances the country’s appeal to sustainable investors.