World Bank to finance Jordan's recovery plans with $1.1b

World Bank meeting at Ministry of Planning and International Cooperation
Jordanian and World Bank officials hold a press conference in Amman on Thursday (Photo: Robin Hashem)
AMMAN — Jordan and the World Bank Group are set to sign funding agreements, including additional funds to help the country address its economic crisis and the repercussions of COVD-19, the two sides announced Thursday.اضافة اعلان

A joint statement following a meeting at the Ministry of Planning and International Cooperation said that in WBG fiscal year 2021 (through June 30, 2021), the WBG with other partners are preparing a package of over $1.1 billion in combined loans and grant financing support.
"This includes the Jordan COVID-19 Emergency Response Project Additional Financing which will allow for expanded and equitable COVID-19 vaccination coverage."

With WBG support, 40 percent of the eligible population can be vaccinated to help meet the target of 75 percent of the adult population critical for reopening the economy, schools and hard-hit sectors.  The WBG is also preparing an expansion of the Emergency Cash Transfer Project to support vulnerable households and workers impacted by the crisis, as part of the Government’s Takaful and Istidama programs, targeting a total estimated 160,000 households under Takaful and over 100,000 workers under Istidama.

As part of its package of FY21 support, the statement said, the World Bank will work with the government to continue to advance Jordan’s reform agenda. The Inclusive, Transparent and Climate Responsive Investments Program for Results (PforR) under final preparation "will support the implementation of critical reforms that have been initiated under the Reform Matrix and will help Jordan capitalize on opportunities for post-pandemic recovery including on green growth, tourism development, and female labor force participation. 

"By strengthening transparency and accessibility of data, the PforR also will help Jordan enhance its accountability mechanisms to deliver effective new policies and investments," the statement said.

The WBG delegation that met with Planning Minister Nasser Al-Shraideh included Dean of the Board of Executive Directors Mirza Hassan, Vice President of the World Bank Group for the Middle East Farid Belhaj, and Director of the Mashreq Department at the World Bank Saroj Kumaga.

Earlier in the day, Prime Minister Dr. Bisher Al-Khasawneh met with the delegation, stressing the importance of strengthening the partnership with the World Bank to support the government in this field and many priority axes, a government statement said.

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