World Bank's $32M boost to Jordan's energy & agriculture sectors

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(File photo: Jordan News)
AMMAN — The World Bank has allocated more than $32 million to Jordan since the beginning of this year for two projects that enhance the electricity and agricultural sectors, according to data collected by Al-Mamlaka TV.اضافة اعلان

Under the Electricity Sector Efficiency and Supply Reliability Enhancement Program, which the Bank is funding with $250 million for the benefit of the National Electric Power Company (NEPCO), a total of $85.1 million has been disbursed to date after transferring $22 million this year.

The data shows that approximately $165 million remains undisbursed pending the achievement of project implementation results and the designed objective aimed at enhancing the efficiency of Jordan's electricity sector and maintaining renewable energy supplies connected to the power grid.

The World Bank noted that the National Electric Power Company achieved cost savings and additional revenues of $32 million by the end of last year 2023, while Jordan maintained sufficient supplies of renewable energy sources within the electricity supply mix, receiving 3525.5 gigawatts/hour of generation for the benefit of the National Electric Power Company from solar and wind power stations.

Regarding the Agriculture Sector Resilience and Value Chain Development Program (ARDI), which the Bank is funding with $95.6 million, the project's disbursements reached $34.1 million to date after disbursing $10.3 million this year.

The data indicates that $61.4 million remains undisbursed pending the achievement of project implementation results and the designed objective, which also includes payments from a co-financing of $23.9 million from the Global Concessional Financing Facility Program and a grant co-financing of $5.5 million from the Endowment Fund.

The World Bank supports the "Agriculture Sector Resilience and Value Chain Development" project known as ARDI, launched with the Ministry of Agriculture at the beginning of 2023 to provide funding for about 30,000 farming families. It is expected to create about 12,000 job opportunities, especially for women and youth.

The ARDI project aims to implement climate-smart agricultural practices, focusing on exploring high-value farming methods characterized by social inclusivity and water efficiency, to encourage the innovative social enterprise model for producing commercial fruits and vegetables in marginalized areas using highly efficient water-saving agricultural technology, according to the Bank.


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