World Bank assisting Jordan address climate challenges

amman jordan
(Photo: Pixabay)
AMMAN – As part of the $1.1 billion of loans and grants announced by the World Bank Group (WBG) to provide assistance for Jordan’s pandemic response, the WBG recently approved $500 million to catalyze public and private investment in the country. اضافة اعلان

An additional $250 million will be financed by the Asian Infrastructure Investment Bank (AIIB).

The program, called the Inclusive, Transparent and Climate Responsive Investments Program-for-Results (PforR), is intended to create more jobs and revive the economy, with a focus on climate, green growth opportunities, and government accountability.

It is premised on the idea that the climate risks currently faced by Jordan, like water scarcity and extreme weather conditions, necessitate a new kind of response that is “more resource-efficient and more competitive,” referred to by the WBG statement as a greening of infrastructure and investments that will ultimately create more jobs.

Specifically, Program-for-Results is a WBG financing instrument used for programs that have already been accounted for by the government budget.

The World Bank press release described the Program’s emphasis on inclusion and transparency while using gender-informed policy to push for female labor force participation and institutionalized public consultation––both during implementation and ex-post evaluation––to ensure that citizen views are well-represented.

Read more national news