Cities and Villages Development Bank (Jordan)

The Cities and Villages Development Bank (CVDB) is the first national direct access entity based in Jordan accredited to the GCF. With a mission to promote sustainable local development, the bank works directly with local councils to offer the needed funding, banking services, and technical and advisory support. CVDB aims to empower local authorities and interested parties by financing their development, service and investment projects and enhance public and private sector partnerships. It is the only national development bank in Jordan and engages with all the over one hundred local municipalities by offering loans for development projects (mainly in infrastructure and energy efficiency upgrades) and acts as the intermediary through which their national budget allocations are delivered from the Central Bank of Jordan.

Together with the GCF, CVDB intends to foster a paradigm shift by evolving toward larger projects with climate mitigation impacts and adaptation benefits, and by increasing public awareness to help drive consumer behavior and public perception toward more sustainable use of scarce resources. CVDB aims to address several GCF results area, including: catalyzing investment in energy efficiency and sustainable energy for Jordan’s municipalities, climate smart urban development, climate resilient infrastructure and efficiency in the water sector, and integrated solid waste management and its environmental impact in Jordan.