The World Bank has confirmed that the second phase of the Jordan Innovative Startups and SMEs Fund (ISSF) project is "progressing satisfactorily" toward its development goal of supporting innovative startups and small and medium-sized enterprises (SMEs).
اضافة اعلان
According to an evaluation report issued by the Bank, disbursement has reached $5.13 million out of the total $50 million funding (10.26%), with $44.88 million remaining. The project is scheduled to continue implementation until July 31, 2030.
Implementation and Governance
The ISSF entered its actual implementation phase in October 2025, following the completion of all effectiveness conditions. The report highlighted that:
The Project Operations Manual (POM) has been finalized.
The Corporate Governance Framework has been updated.
Financial and operational arrangements are fully in place to support the project.
Since entering into force, initial disbursements have been made, and the investment committee has begun reviewing early-stage investment proposals within the co-investment and venture capital windows.
Strategic Goals and Targeted Impact
The project aims to mobilize private capital for early-stage equity financing and stimulate high-growth startups in key sectors, including ICT, FinTech, HealthTech, and GreenTech.
Key Performance Indicators (KPIs) by 2030:
Private Capital Mobilization: Target of $150 million.
Direct Support: Backing 100 startups.
Job Creation: Generating 1,500 direct jobs.
Inclusivity: 30% of beneficiaries to be women-led/owned businesses; 40% to be youth-led.
Sustainability: 10% of investments dedicated to Green Technology.
Funding Allocation
The $50 million funding is distributed across three main components:
$42 million: Investment through investment funds (Venture Capital).
$3 million: Direct co-investments.
$5 million: Project management and capacity building.
The project’s first phase successfully attracted over $240 million in private capital and created more than 2,290 jobs. The second phase will continue to leverage the expertise of the International Finance Corporation (IFC) in due diligence and co-investment.
It is noteworthy that the first phase was also funded by the World Bank with $50 million, in partnership with the Central Bank of Jordan (CBJ).
