Capital Leasing has signed a US$5 million loan agreement with the European Bank for Reconstruction and Development (EBRD) under the Green Economy Financing Facility (GEFF) in Jordan.
The financing package includes US$1.25 million in co-financing from the Green Climate Fund (GCF), according to the EBRD.
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This is the first GEFF facility signed with a leasing company in Jordan and the seventh GEFF financing agreement in the country overall. The loan aims to expand access to finance for Jordanian micro, small and medium-sized enterprises (MSMEs) investing in climate mitigation and adaptation technologies.
Targeted beneficiaries include businesses and individuals in sectors such as energy services, technology supply, manufacturing and maintenance. Financing will support investments in climate-resilient and low-carbon technologies.
The facility is supported by a grant of up to €560,000 from the European Union (EU) to promote the adoption of green technologies among MSMEs and households. The EU grant will support awareness raising and provide access to technical tools and green equipment.
Capital Leasing will also receive technical assistance co-funded by the EBRD, EU and GCF. This includes support for implementation and monitoring of the facility and training programmes for Capital Leasing and its sub-borrowers on climate adaptation and technology deployment.
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By GlobalDataThe agreement was signed during the EBRD’s Annual Meeting in London by Francis Malige, EBRD Managing Director, Financial Institutions, and Tamer Ghazaleh, Chairman of Capital Leasing.
Capital Leasing is a subsidiary of Capital Bank of Jordan and provides financial leasing services to retail, SME and corporate clients across sectors, including vehicles, equipment and real estate.
Since 2012, the EBRD has invested over €2.3 billion in Jordan across 75 projects. Around 70 per cent of this funding has supported the private sector, including through MSME lending and trade finance facilities.
