According to a local publication, the Jordan government will use the loan to improve the country’s water and energy efficiency regulation and fund projects to increase management of water and energy resources.
The loan is expected to help the Arabic nation achieve a reliable energy grid network through increased adoption of renewable energy sources.
Imad Fakhoury, Minister of Planning and International Cooperation said the loan will help improve revenue collection within the energy and water industry and ensure utility firms become self-reliant by 2025.
The money will sponsor drafting of policies and programmes to ensure the country’s water sector reduces its water bills. It is predicted that 16% of Jordan’s total energy consumption is used by the water industry.
The soft loan will be paid back to the World Bank within a period of 35 years at an interest rate of 1.25%.
In related news, the Indian state government of Andhra Pradesh announced that it is drafting and will implement a policy to enhance the adoption of energy efficiency technologies.
The drafting of the energy efficiency regulation is in line with recommendations set by the World Bank advising the state to introduce a policy to enhance its energy conservation.
The regulation will make energy efficiency mandatory and a fundamental measure of Andhra Pradesh's grid system.The rule will force consumers to use energy efficient equipment certified in line with standards set by the state government.
The energy efficiency regulation will also force the state government and utilities to provide consumers with incentives for reducing their energy usage and costs using energy efficiency rated equipment.
The introduction of the policy is expected to help utility firms achieve a stable grid network, optimise their operations and revenue collection.The news follows the Indian state of Andhra Pradesh being ranked the leading energy efficient state in India by the World Bank. [UK energy efficiency: government policy limiting market growth – report]
The state is reported to have saved 1.5 million energy units since 2015.
Image credit: www.efficiencyconsulting.com.