Amman, The Ministry of Energy and Mineral Resources (Jordan Renewable Energy & Energy Efficiency Fund (JREEEF) and Jordan Chamber of Industry (JCI) on Sunday launched the third phase of the ministry-provided support program to Jordan’s industrial sector aimed to reduce production costs and increase the sector’s competitiveness at a total cost of JD4 million.
Minister of Energy and Mineral Resources / JREEEF Chairman, Saleh Kharabsheh, signed agreements with the 10 eligible factories out of the 22 that applied to benefit from the program’s funding.
This initiative comes within the framework of the energy sector’s strategic objectives aiming to reducing energy consumption and improving its efficiency.
In a press statement, the minister stressed the importance of the agreements in providing specialized, long-term and renewable industrial funding, describing Jordan’s industrial sector as the “largest” employer and supporter of the national economy.
For this reason, he said the ministry developed, through JREEEF, this integrated financing program to serve Jordan’s industrial sector.
In addition, he pointed to the program’s importance in reducing production costs and facilitating the industrial sector’s access to the necessary financial facilities for development, especially in the absence of mechanisms and plans to stimulate banks to lend factories and reduce interest rate margin.
The program, he said, would achieve the strategic goals of Jordan’s energy sector in reducing energy consumption and improving its efficiency, especially since the industrial sector consumes energy at about 17% of the total consumption of all sectors.
The program is implemented in cooperation with the ministry’s partners of Central Bank of Jordan (CBJ), commercial banks, Jordan Loan Guarantee Corporation (JLGC) and Jordan Chamber of Industry (JCI).
Source: Jordan News Agency