Economic opportunities project progressing to an ‘acceptable degree’

1. World Bank
(Photo: AFP)
AMMAN — The World Bank recently released a report indicating that the project entitled “Economic Opportunities for Jordanians and Syrian Refugees,” which it has funded on a loan basis since 2016, is progressing to a somewhat acceptable degree while moving satisfactorily towards the project's development goal, according to Al-Ghad News.اضافة اعلان

The World Bank funded the project in September 2016 with $300 million to help Jordan enhance the investment climate, attract investors, reform the labor market, and allow the Syrian labor force to contribute to Jordan's economic growth. In 2020, the World Bank injected around $100 million more into the Kingdom.

The project was set to conclude in 2021, yet the deadline was postponed until 2023 due to the additional funding.

The project aims to facilitate trade, encourage investment, especially in existing special economic zones, and foster entrepreneurship activities for Jordanians and Syrians.

The Bank's report confirmed that the project is making good progress in accessing employment through the new work permits system and expanding access to digital finance through e-wallets.

The report also said that efforts were under way to improve social security coverage, noting that further action was needed on the entrepreneurship agenda, including work-from-home and for the electronic licensing of childcare facilities.

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