Amman: The Housing Bank has launched Jordan's first blue bond, issuing a $100 million loan note under a $200 million program with the European Bank for Reconstruction and Development (EBRD), marking a milestone in the country's sustainable finance market.
According to Jordan News Agency, the proceeds will finance sustainable water-resource projects, primarily the National Water Carrier Project, underscoring the bank's commitment to advancing sustainable financing and financial innovation.
The issuance is a significant development in Jordan's capital market, said Housing Bank CEO Ammar Safadi, calling the blue bond an investment and financing instrument dedicated to projects supporting water-resource management, ecosystem protection, and sustainable infrastructure.
The initiative, he said, will support Jordan's national water security program, while strengthening the Kingdom as a regional leader in sustainable finance.
Safadi added that the issuance reflects the bank's role in accelerating development through integrated financial solutions for strategic national projects, particularly the National Water Carrier Project. He noted that in 2025, the bank led the arrangement of a JD800 million local banking syndication loan for the project.
Mike Taylor, EBRD Managing Director for Financial Institutions in the Middle East and Africa, said Jordan's inaugural blue bond is a landmark transaction that strengthens the link between sustainable finance and the Kingdom's water security priorities.
Taylor said the EBRD's partnership with the Housing Bank marks an important step forward for sustainable finance in Jordan and lays the groundwork for future thematic bond issuances across the region.
The National Water Carrier Project is the largest water infrastructure project in Jordan's modern history. It is expected to supply around 300 million cubic meters of potable water annually to Aqaba and Amman, enough to meet the needs of approximately 4 million people.
The project will enhance national water security, support sustainable economic development, and serve as a model for cooperation between the banking sector and major national infrastructure projects.
The bank said the inaugural blue bond demonstrates its ability to diversify sustainable funding sources through innovative financing instruments aligned with international best practices, supporting green finance and channeling investment toward projects that deliver long-term environmental, economic, and climate resilience in line with the bank's vision and the Central Bank of Jordan's sustainability strategy.