Jordan Kuwait Bank recently signed a cooperation agreement with the Izzat Marji Group to finance energy efficiency and renewable energy projects.

 

The agreement was signed at the bank’s headquarters in the presence of Zuhdi Al-Jayyousi, Chief Banking Officer, along with the executive management and General Manager of EverGreen for Trading and Investment, Fadi Marji.  This partnership aligns with Jordan’s Economic Modernization Vision, emphasizing sustainability as a core element and translating the bank’s green growth plans into action.

Under the agreement, the bank will finance energy efficiency and renewable energy projects for EverGreen for Trading and Investment, using a project financing model and a savings-sharing mechanism.

Notably, Jordan Kuwait Bank received the Global Green Bond of the Year award for 2023 from the Global SME Finance Forum. This recognition followed the issuance of Jordan's first green bond, valued at $50 million, aimed at supporting green financing and sustainable, environmentally friendly projects.

This strategic partnership promises numerous benefits, including the provision of clean energy sources. The funded projects will help reduce dependence on fossil fuels, increase the use of renewable energy, and lower carbon emissions. They will also improve energy efficiency through modern and innovative technologies, reduce energy consumption, and enhance operational efficiency. Moreover, the partnership encourages investment in energy efficiency, renewable energy, and environmentally friendly projects, promoting sustainable development and fostering a green and sustainable economy. This collaboration underscores the environmental commitment of both Jordan Kuwait Bank and the Izzat Marji Group to promoting environmental sustainability and preserving natural resources for future generations.

Fadi Khalil, Head of Corporate Business at JKB, stated, “We at the bank are proud to sign this strategic agreement with the Izzat Marji Group. It reflects our commitment to promoting and supporting sustainable development projects, providing innovative financial solutions to our customers, and contributing to building a better future for all.” Khalil further highlighted his enthusiasm for strengthening cooperation between the two parties to achieve sustainable development goals through environmentally friendly projects.

Fadi Marji, General Manager of EverGreen for Trading and Investment , also expressed his pleasure in achieving this milestone with Jordan Kuwait Bank. He highlighted the unprecedented pioneering idea in the Jordanian market that benefits all parties through the development and implementation of sustainable projects aimed at improving energy efficiency and preserving the environment.