EBRD supports modernisation of Jordanian firm Al Jazeera’s poultry sector

The European Bank for Reconstruction and Development (EBRD) has agreed to provide a €19m loan to Jordan’s poultry firm, Al Jazeera Agricultural Company, in order to support the supply of safer and more hygienic produce for consumers.

The new funding will offer the company working capital and also support with its expansion plans, including the construction of a new grain mill and investments in energy efficiency.

EBRD vice-president Philip Bennett said: "We are very pleased to sign our first agribusiness project in the country; to support a strong, local company helping to set quality standards and improve food security in Jordan.

"In addition, through this investment the Bank will contribute to increasing employment opportunities and economic growth in rural areas."

The company will also be able to reduce fuel consumption for farmhouse heating by at least 20%, with the support of a $180,000 grant under the EBRD’s finance and technology transfer centre for climate change (FINTECC) programme.

The programme is designed to help companies to put in place innovative climate technology, providing grants, technical assistance and advice from consultants in parallel with EBRD loans.

As part of the new development, Al Jazeera will launch high-efficiency heating systems equipped with integrated heat recovery systems to minimise the use of diesel.

In addition, the new system will offer more efficient heating and ventilation along with reduced operational costs.

The latest funding marks the first EBRD project supported by FINTECC in the southern and eastern Mediterranean region.

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Image: The EBRD’s investment will support modernisation of the Jordanian poultry sector. Photo: courtesy of European Bank for Reconstruction and Development.