Jordan, October 2025 – The Global Green Growth Institute (GGGI), in partnership with the Cities and Villages Development Bank (CVDB), has successfully concluded a series of four regional meetings with municipalities across Jordan to identify and develop a pipeline of sustainable projects for potential financing through thematic bond issuance. 

Held over the past two weeks in the North, Central, and Southern regions, the meetings brought together over 70 municipal representatives. These sessions served as a collaborative platform for municipalities to present project concepts that address climate change mitigation and adaptation priorities, sustainable urban development, and resilience building. 

The initiative is part of the Catalyzing National Thematic Bond Market in Jordan Project, under GGGI’s Global Trust Fund on Sustainable Finance Instruments, global program supported by the Government of the Grand Duchy of Luxembourg.  The program aims to boost sustainable finance in developing countries. 

The project supports CVDB’s green growth and climate change resiliency mandate, to introduce innovative financing mechanisms aligned with Jordan’s Nationally Determined Contributions (NDCs), National Adaptation Plan (NAP), and National Green Growth Plan. The planned pilot issuance will raise long-term capital for Jordan’s municipal development. 

Municipalities are at the frontline of climate action. Ms. Krystle Cooper, Deputy Country Representative of GGGI Jordan, noted that “GGGI is excited to support CVDB on its journey to issue its first green or thematic bond.  Sustainable finance offers developing country municipalities a powerful tool to raise long-term capital for essential infrastructure in a climate-friendly way. When well-designed, they enable access to new finance, improve governance, spur transformation toward sustainable urban environments, and deliver co-benefits for society.”

During the meetings, municipalities were introduced to the concept of sustainable finance instruments dedicated to funding environmentally and socially sustainable projects. Participants learned how green or thematic bonds can support local development efforts while contributing to national and international climate commitments. 

Projects discussed included initiatives focused on renewable energy and energy efficiency, water conservation and management, waste reduction, resilient infrastructure, and urban greening. The identified projects will undergo further review and development to form part of the thematic bond project pipeline, which provides the foundation for issuances. 

Ms. Hala Al-Huneiti, Head of Projects Management and Agreements Unit at CVDB, added, “The workshops further aim to enhance municipalities’ awareness of the significance of these instruments and to gather their proposals and project concepts to establish a national database that will form the foundation for a future thematic bonds portfolio.”

The completion of these four regional meetings marks a significant milestone in Jordan’s journey toward leveraging capital markets for sustainable development. GGGI and CVDB will continue to work closely with participating municipalities to refine project concepts, ensure alignment with climate finance criteria, and advance project readiness for potential investment. 

Media contact

(GGGI Seoul HQ) communications@gggi.org  

(GGGI MENA) hiba.nabulsi@gggi.org 

Photos ©Global Green Growth Institute