Disi Conveyor financing, Jordan

What is it?

A $945 million financing package to fund the construction of a 325km pipeline that will convey 100 million m³/year of water from the Disi aquifer in southern Jordan to Amman.

Who is responsible?

The developer JV of Gama Holding and GE Energy Financial Services is providing a $190 million equity investment. The 21-year debt package includes $100 million each from the EIB and Proparco, as well as $255 million from OPIC. The Ministry of Water and Irrigation, the project client, is providing a $300 million grant.

What makes it special?

• Few countries in the world face water supply challenges as severe as Jordan’s, and the Disi Conveyor is a consummate example of the world-class infrastructure projects that will provide workable solutions. To make it a reality, the Jordanian water ministry expertly drew together a diverse group of highly respected lenders to help fund the largest privately-financed water supply project in its history.

• The Jordanian government gilt-edged the funding opportunity for multilateral lenders with simultaneous initiatives to reduce the level of non-revenue water in Amman.

• The government also framed the impressive private sector investment in the project with a grant to ensure affordable tariffs for consumers in Amman.