WB to finance phase 1 study of Irbid agro market project

The Greater Irbid Municipality and the International Finance Corporation (IFC) of the World Bank Group on Wednesday signed a preliminary agreement to finance a study to implement the first phase of a new project to relocate the city’s central vegetables and fruits market.

 

The project, the total cost of which is estimated at a cost of $ 40 million, aims at moving the market from its current location in the city center to a new site near the Nu’ima Bridge.

 

The two parties also signed an engagement letter under which the IFC will provide consulting services to the municipality to conduct several studies related to the relocation project.

 

Under the engagement letter, the IFC will provide $300,000 worth of services and advisory studies to the municipality free of charge, said Mayor Hussein Bani Hani.

 

The agreement and the letter, Bani Hani added, include a study on the proposed project’s economic feasibility and an assessment of the social and environmental impacts resulting from the relocation, in addition to enhancing the key environmental and social aspects associated with the project.

 

Bani Hani pointed out that the corporation will provide the necessary expertise to enable the municipality to conduct a full risk assessment based on the identified gaps in the environmental and social impact assessment in line with international best practices.

 

He stated that the agreement and the letter also include work to build the municipality’s environmental and social capabilities by training its specialized employees, in addition to studying the impact of the roads that will be paved near the project site and the positive impact of moving the market on traffic in the city center.

 

After the studies are complete, the municipality will decide whether or not to go ahead with the procedures related to financing the first phase of the project, Bani Hani said.

 

Source: Jordan News Agency

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