AMMAN — The European Bank for Reconstruction and Development (EBRD) will be the largest lender for the Aqaba–Amman Water Desalination and Conveyance Project (the National Water Carrier), EBRD Vice President for Banking Matteo Patrone said on Thursday.

 

The announcement came after the EBRD Board of Directors approved a $475 million loan for the strategic water project.

 

In remarks to Al Mamlaka TV, Patrone described the National Water Carrier as “critically important” for strengthening Jordan’s long-term water security, noting that the signing of the final technical and legal agreement between the government and project developer Meridiam marks a key milestone in its implementation.

 

He added that the EBRD is finalising documentation with project developers and development partners, with the agreement expected to be signed in the coming weeks.

 

Patrone described the project as a “historic example” of cooperation between international financial institutions and commercial lenders to deliver a large-scale infrastructure project through public-private partnership.

 

On regional developments, he expressed sympathy for those affected by recent conflicts in the Middle East and voiced hope for a durable resolution.

 

He reiterated the bank’s commitment to supporting economies through its Middle East Conflict Response Initiative, which provides targeted assistance to countries and clients impacted by the war.

 

He noted that although Jordan remains stable, it has been affected economically by regional disruptions to tourism, trade and transport. He also said the EBRD increased its support to Jordan in 2025, doubling its investments through 10 projects worth more than 200 million euros, most of which were in the private sector.

 

Under the conflict response initiative, the EBRD will continue to support Jordan in sectors including water and energy, alongside broader assistance to Iraq, Lebanon, the West Bank and Gaza, as well as neighbouring countries including Egypt, Turkey, Armenia and Azerbaijan.

 

During his visit, Patrone signed two memoranda of understanding (MoUs) with the Jordanian government and the National Electric Power Company (NEPCO).

 

The agreements focus on supporting renewable energy tenders, battery energy storage systems, and reforms aimed at improving the financial sustainability of the electricity sector, in addition to modernising the power transmission network.

 

The bank will also provide technical assistance to support Jordan’s plans to position Aqaba as a regional hub for green hydrogen, in line with the Kingdom’s target of generating 50 per cent of its energy mix from renewable sources by 2033.

 

Patrone thanked Minister of Planning and International Cooperation Zeina Toukan, Minister of Water and Irrigation Raed Abu Saud, Minister of Energy and Mineral Resources Saleh Kharabsheh, and NEPCO Director General Sufyan Bataineh for their cooperation.

 

Since 2012, the EBRD has invested more than €2.2 billion in Jordan through 84 projects, with 73 per cent directed to the private sector.