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OECD Clean Energy Investment Policy Review of Jordan

image of OECD Clean Energy Investment Policy Review of Jordan

The Jordan Clean Energy Investment Policy Review is a country-specific application of the OECD Policy Guidance for Investment in Clean Energy Infrastructure. It aims to help Jordanian policy makers strengthen the enabling conditions for investment in renewable electricity generation in Jordan. The Policy Guidance is a non-prescriptive tool to help governments identify ways to mobilise private sector investment in clean energy infrastructure, especially in renewable electricity generation. The Policy Guidance was jointly developed by the OECD Working Party on Climate, Investment and Development (WPCID) of the Environment Policy Committee (EPOC) and the OECD Investment Committee, jointly with the Global Relations Secretariat (GRS). It benefited from significant inputs of the World Bank and the United Nations Development Programme (UNDP). The Policy Guidance was annexed to the Communiqué of G20 Finance Ministers and Central Bank Governors at their meeting on 10-11 October 2013.

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Assessments and recommendations

To provide relevant context for the consideration of investment in renewable power in Jordan, this section provides a brief overview of Jordan’s economic and energy trends. Jordan’s economy has exhibited moderate economic growth for a number of years, but has struggled with energy security and supply challenges, as well as large current account and fiscal deficits leading to rising public debt. These imbalances are closely linked to the regional refugee crisis and the structure of Jordan’s energy sector. Securing energy supply is a key priority for the energy sector, to cope with: high energy dependency; frequent exogenous shocks due to regional conflicts; high electricity costs; rapid growth in demand for electricity; a high ratio of energy imports to total imports; and high levels of support for fossil fuels. These challenges all point to the need to scale up investment in domestic energy supply, and especially in renewable power generation,1 in order to sustaining economic growth, improving energy security and reducing budget pressure associated with fossil-fuel imports.

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