AMMAN — The European Bank for
Reconstruction and Development recently announced the provision of a long-term
"high-quality guaranteed" loan amounting to $35.5 million for the
benefit of Oasis (33) Development Company for Multifunctional Development.
اضافة اعلان
The bank confirmed that the loan will be
part of a syndicated facility, to be used to build upon the bank's initial deal
with the company and support the continuous development of the "Ayla
Marina" village.
Oasis (33) Development Company for
Multifunctional Development is a real estate company established in 2008 by
"Ayla Development Oasis," responsible for developing, constructing,
and operating the "Ayla Marina" village, including three hotels and
retail stores within the "Ayla" Oasis in Aqaba. The company is owned
by the Aqaba Special Economic Zone Authority and a coalition of private
investment companies, Al-Ghad reported.
The project includes extending the
current debt repayment deadlines for the company, completing the construction
of the Pulse Hotel, currently being developed by the company as part of the
broader Ayla Oasis renewal project, spanning over 4.3 million square meters.
According to a report released by the
bank on March 20, the project aims to enhance human capital and address
critical gaps in hospitality sector skills in Jordan by offering the first
work-based educational program in Jordan to support tourism, hospitality, and
retail sectors.
Additionally, it involves collaborating
with the Jordanian government to develop a work-based educational system in
this field, along with supporting green economy efforts in the tourism sector.
The report emphasized the importance of
this loan in developing policy dialogue to facilitate the integration of
work-based learning programs in Jordan, as well as setting standards by
supporting the company in maintaining higher standards regarding gender
equality and economic inclusion in line with the European Bank for
Reconstruction and Development's gender equality smart standards.
Furthermore, regarding financial
commitments to maintaining environmental standards and promoting
sustainability, the majority of electricity used in the "Ayla Oasis"
project is generated from solar and photovoltaic power plants with a total capacity
of 7.6 megawatts. Facilities have already been established and are operational.
Additionally, "Ayla" utilizes
treated sewage water provided by AWC and treated groundwater through reverse
osmosis, with wastewater being discharged into the sewage network, treated, and
some retrieved for irrigation purposes.
The report also confirmed that as part of
the company's environmental commitments, it has an ongoing program to monitor
biodiversity focusing on birds and marine species. The company collaborates
with various non-governmental organizations and stakeholders in monitoring
water quality, preserving biodiversity, and waste management aspects.
Regarding the company's social standards
commitments, the report highlighted its efforts to identify additional measures
for improvement and enhancement, incorporating them into the environmental and
social action plan (ESAP). This includes developing tourism and hospitality
practices, continuing to improve human resource policies and procedures
regarding gender-based violence and sexual harassment, ensuring freedom of
association and labor dispute mechanisms.
Moreover, a food safety program will be
developed, including good internal practices, and project monitoring will
continue through the annual environmental and social report submitted to the
bank.
Read more National news
Jordan News
.jpg)
.jpg)
