01/04/2018: Jordan Commercial Bank and MEMR/JREEEF recently signed a memorandum of understanding whereby the Bank, in cooperation with the Fund, grants soft loans to beneficiaries of projects related to renewable energy sources and energy conservation, including SMEs, government buildings and individuals. These loans will be granted with preferential privileges, ranging from JD500 to JD2,250 as financing for the domestic sector and JD350,000 as financing for renewable energy products and energy conservation for SMEs and government buildings.

The MoU was signed by Caesar Qulajen, the Bank's General Manager, and Rasmi Hamzeh, JREEEF's Executive Director, in the presence of a number of executives from both sides.

Commenting on the signing of the MoU, Qulajen said:

"This MoU is an extension of the positive and fruitful cooperation between the two parties. It comes as part of our continuous endeavor to provide comprehensive banking solutions and reflects our keenness to meet financing needs and empower SMEs, government buildings and citizens of various income categories to benefit from the projects related to renewable sources of energy. We hope to become a strategic partner of JREEEF in the process of supporting and motivating citizens to invest in projects that contribute to the rationalization of energy consumption and use of available alternatives of renewable sources of energy because of their positive impact on the environment and the protection of its resources."