The European Investment Bank (EIB) and the Jordanian Cities and Villages Development Bank (CVDB) reached an agreement on 17 October for a €45 million loan to finance energy efficiency projects in Jordan. The signing ceremony took place at the EU Delegation in Amman with the presence of Flavia Palanza, Director for Eastern and Southern Neighborhood of the EIB, and Osama Al Azzam, Director General of the CVDB. The projects will target municipal building and lighting infrastructure in the country through projects such as rooftop solar PV, street lighting refurbishments, energy efficiency building and other similar investments. The reduction of energy consumption will allow municipalities to reallocate this money to other priority needs of the population, especially in rural areas and zones affected by the Syrian refugee crisis. The initiative is in line with the objectives of the EU-Jordan Partnership and Compact, which aims to reduce energy use by 20% in 2020 and increasing the shares of renewables in electricity generation to 15%.