Jordan Kuwait Bank issues its second Green Bond in partnership with IFC to advance sustainable finance in Jordan

Jordan Kuwait Bank (JKB), in partnership with the International Finance Corporation (IFC), a member of the World Bank Group, has announced the issuance of its second Green Bond, reinforcing its leadership in sustainable finance and reaffirming its commitment to supporting Jordan’s transition towards a more resilient and sustainable economy. Building on the successful issuance of Jordan’s first Green Bond in 2023, this second issuance marks another important milestone in the Bank’s sustainability journey and reflects the growing momentum of sustainable finance in the Kingdom. The proceeds of the bond will be allocated to finance projects across renewable energy, energy efficiency, blue finance, certified green buildings, and sustainable transport, supporting investments that deliver long-term environmental, social, and economic impact. The issuance is fully aligned with Jordan’s Economic Modernization Vision, the Central Bank of Jordan’s Green Finance Strategy, and the Kingdom’s broader sustainability objectives. It also complies with the International Capital Market Association’s (ICMA) Green Bond Principles and Jordan Kuwait Bank’s Green Finance Framework, ensuring the highest standards of transparency, governance, and disclosure. As part of this transaction, IFC is investing up to USD 100 million in the Bank’s Green Bond issuance. The investment is further supported through a performance-based incentive under the IFC-UK Market Accelerator for Green Construction (MAGC)- a blended finance program supported by the United Kingdom, acting through the Department for Energy Security and Net Zero- which aims to encourage financing for certified green buildings and accelerate sustainable construction practices across emerging markets. This milestone reflects the continued confidence of leading international financial institutions...