AMMAN — The
World Bank is considering approving $95.6 million in financing for a Jordanian
project that supports agricultural development through resilience to climate
change and sustainability, Al-Mamlaka TV reported Monday.
اضافة اعلان
The proposed project is
based on Jordan's National Sustainable Agriculture Plan (2022–2025) in terms of
its objectives, priority activities, and main results.
The World Bank Board of
Directors is scheduled to approve the project by the end of June. Its total
value may reach about $595 million, which will be funded by the government and
trust funds.
The proposed project
addresses the challenges facing the
agricultural sector in Jordan through
setting up partnerships between the public and private sectors. It seeks to
enhance the resilience of the agricultural production system in the face of
climate change and transforms the sector towards a more sustainable growth
path.
It will also contribute
to improving the competitiveness of the agri-food sector by strengthening the
enabling environment for agribusiness and making the sector more attractive for
investors.
The World Bank had
indicated earlier that the agri-food sector in Jordan is an important source of
income, employment and exports and has a lot of untapped potential, pointing
out that a quarter of Jordan's poor depend on agriculture for their income.
“Although primary
agriculture contributes only a small percentage of GDP, the broader agri-food
sector contributes a much larger share when accounting in related value chain
activities,” according to the proposed project, which showed that increased
investments in the agricultural sector would lead to rural job creation.
The World Bank had said
that
climate change "severely affects" agriculture in Jordan through
rising temperatures and declining rainfall, warning of the recurrence of
droughts and the increased need for irrigation water.
“Jordan is among the most
water-scarce countries in the world, as climate change will further reduce
water availability,” according to the World Bank, which stressed that improving
water use efficiency in irrigated agriculture could build resilience to water
scarcity and mitigate the effects of climate change.
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