Jordan Ahli Bank announces 1st locally issued $50 million Sustainability Bond

Amman: Jordan Ahli Bank has announced the first locally issued Sustainability Bond in Jordan, valued at $50 million, in collaboration with the International Finance Corporation (IFC), a member of the World Bank Group. "This bond (...) marks a significant step forward in our commitment to sustainable and responsible finance. (...) It aligns seamlessly with Jordan's strategic goals for economic modernization and sustainable development, supporting green businesses - especially SMEs - and enhancing social inclusion," Jordan Ahli Bank CEO/General Manager, Ahmad Al-Hussein, said. "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," Al-Hussein added. "Innovative private sector investments are needed to help Jordan's banking sector transition toward sustainable finance and tackle pressing cli mate 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 asset market," Ahmed added. 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. Source: Jordan News Agency