Deputy General Manager of the Cities and Villages Development Bank (CVDB), Mohammad Harahsheh, on Monday, underscored the bank’s pivotal role in financing sustainable, climate-conscious initiatives within the municipal and private sectors.
His remarks were delivered during the influential Social Dialogue and Transition to Green Economy Conference, held in Amman, emphasizing the worldwide momentum towards embracing green practices and sustainable financing, and acknowledging the imperative for collective action to combat climate change.
Harahsheh highlighted a paradigm shift in financial institutions towards prioritizing environmental sustainability, focusing on fundamental principles within financing operations. He stressed the importance of facilitating capital flow for investments and technology-driven projects that address climate change challenges and natural disasters, underscoring the bank’s commitment to responsible resource allocation.
“The CVDB is poised to actualize this commitment,” he said, noting that the bank’s pursuit of accreditation from the Green Climate Fund (GCF) exemplifies its dedication to becoming a certified and influential financing platform. By empowering municipalities and the private sector to harness fund financing, the bank is poised to lead in fostering resilience to climate-related issues.
Furthermore, he divulged that the bank has made substantial strides in the GCF accreditation process, currently advancing to its second phase. Anticipating accreditation in the upcoming year, the bank’s successful navigation of training, financial management protocols, grant guidelines, and project directives underscores its readiness for this endorsement.
Harahsheh also outlined the bank’s proactive stance in elevating awareness and steering municipalities towards climate-responsive ventures. By embedding advanced standards and regulations into financing policies, the bank positions itself as an instrumental investment conduit through the Provincial Development Fund. This strategic transition empowers the bank to facilitate sustainable urban and rural growth while bolstering climate resilience.
Source: Jordan News Agency