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World Bank to consider $95.6m to support local agricultural development

farmers
(File photo: Ameer Khalifeh/Jordan News)
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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