Jordan Ahli Bank and IFC Announce Jordan’s First Locally Issued Sustainability Bond

Amman, August 26, 2024: Jordan Ahli Bank has announced the first locally issued Sustainability Bond in Jordan, valued at USD 50 million, in collaboration with the International Finance Corporation (IFC), a member of the World Bank Group. This bond represents a significant milestone in the bank’s journey towards sustainable and responsible finance, aimed at funding projects that generate positive environmental and social impacts.

Aligned with the Kingdom’s Economic Modernization Vision, the International Capital Market Association’s Green Bond Principles and Social Bond Principles and the Central Bank of Jordan’s Green Finance and Inclusion Strategies, this bond exemplifies Jordan Ahli Bank’s adherence to international best practices and transparency.

Proceeds from the bond issuance will be directed toward vital green and social projects. These include supporting green SMEs, as well as women-owned or women-led SMEs.

The Sustainability Bond highlights Jordan Ahli Bank’s keen interest in forging instrumental partnerships with global organizations to foster a robust and responsible banking sector, advance sustainable investments in the Kingdom and positively impact society and the environment while delivering long-term value for investors and stakeholders.

“This bond, issued together with the IFC, marks a significant step forward in our commitment to sustainable and responsible finance, which is a crucial growth area for both Jordan Ahli Bank and the wider banking sector. It aligns seamlessly with Jordan’s strategic goals for economic modernization and sustainable development, supporting green businesses - especially SMEs - and enhancing social inclusion. Throughout the issuance process, we are dedicated to ensuring the funds are used responsibly and transparently, in line with our sustainability goals. By financing these impactful projects, we aim to contribute to a more sustainable and prosperous future while creating long-term value for our stakeholders,” commented Jordan Ahli Bank CEO/General Manager, Dr. Ahmad Al-Hussein.

"Innovative private sector investments are needed to help Jordan's banking sector transition toward sustainable finance and tackle pressing climate challenges," said Khawaja Aftab Ahmed, IFC’s Regional Director for the Middle East, Pakistan and Afghanistan. “This investment, fully aligned with Jordan’s Economic Modernization vision (EMV) and World Bank Group Country Climate and Diagnostic Report (CCDR), will help Jordan Ahli Bank boost its green lending, expand access to finance for underserved small and medium businesses, including women-owned ones, and contribute to Jordan’s growing assets market."اضافة اعلان

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