Amman, June 30 (Petra) -- The Cities and Villages Development Bank (CVDB) has signed a landmark Master Accreditation Agreement with the Green Climate Fund (GCF), positioning the bank as the primary entity for accrediting funding requests from the fund in Jordan. This makes CVDB the first institution in the Middle East to achieve such accreditation.

The Green Climate Fund is a leading global source of climate finance for both public and private institutions, dedicated to funding projects that promote green climate initiatives and environmental sustainability.

The Cabinet's approval of this agreement is considered a strategic step in bolstering Jordan's efforts to increase climate finance and achieve the goals of its Economic Modernization Vision.

Mohammad Harahsheh, Acting Director General of the CVDB, told Petra Monday that this agreement makes the bank the first financial institution in the Middle East to receive this accreditation from the GCF.

This status will enable CVDB to secure grants and concessional loans for climate projects aimed at reducing greenhouse gas emissions and enhancing the Kingdom's capacity to adapt to the environmental impacts of climate change.

Harahsheh expressed the bank's pride in being the first GCF-accredited financial institution in the Middle East. He highlighted CVDB's ongoing work to develop funding proposals in partnership with relevant entities, contributing to a more resilient and sustainable future.

He further noted that this agreement is a significant step in strengthening the bank's role as a key driver of local development across various municipal areas and an important pillar in supporting Jordan's transition toward a green economy.

This GCF accreditation serves as international recognition of the bank's adherence to the highest environmental, financial, and social standards. It also underscores CVDB's pioneering role in empowering municipalities, local communities, civil society organizations, and the private sector to implement sustainable development projects capable of addressing future climate change challenges.

//Petra// AA

30/06/2025 11:45:06