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The Role of Environmental Funds in Creating Economic Benefits

Mr. Mohammad Asfour
Sector Lead
Architecture and Engineering
Energy, Water and Environment

SABEQ Project - Funded by USAID; Managed by BearingPoint, Inc.
PO Box 940503 - Amman 11194, JORDAN
T + 962 6 550 3050, ext 121 - F + 962 6 550 3069 masfour[at]sabeq-jordan.org

Abstract

Jordan recognizes that the major economic activities of the country – industry, mining, agriculture and tourism - are highly dependent on a sound environment. The sustainability of these economic activities and their continued contribution to the development of Jordan, are inextricably linked to the protection of its environment.

Jordan has shown a strong commitment to environmental protection, pollution abatement and preservation of natural resources, and this effort is demonstrated through the significant legal measures, national strategic priorities and international conventions it has ratified over the years.

Despite this, there are severe threats to Jordan’s environment and they are increasingly constraining the country’s economic stability.  In fact, the cost of environmental degradation in Jordan was estimated at an annual rate of JD 205 million or 3.1% of GDP in a study completed by the World Bank in 2004[1].  The areas most damaging to Jordan’s environment include emissions of toxic air and water pollutants; disposal practices for solid, chemical and hazardous wastes; and uncontrolled development – with non-compliance to Jordan’s environmental laws heightening the challenge.

Jordan wishes to advance progress on environmental protection especially in regard to compliance to national regulations and knows that achieving improvements and full compliance will require substantial gains in institutional capacity and upgrades to infrastructure across industrial, commercial and development entities.  

To support advancement, the Government of Jordan, in 2006, approved amendments to its Environment Protection Law calling for the development of a Jordan Environmental Fund (JEF).  The Fund’s objective is to provide financial assistance on a competitive basis to entities investing in projects that promote sustainable use of Jordan’s natural resources and strengthen institutional capacity to comply to national environmental laws.

This presentation will discuss the role such financial instruments can play in maximizing economic benefits resulting from solid waste.

 

[1] A study conducted by the World Bank in 2004, Cost Assessment of Environmental Degradation

 

 

Application for Participation (PDF)