$2.75b in projects being implemented by World Bank

world bank
(File photo: Jordan News)
AMMAN — The World Bank’s ongoing portfolio of operations in Jordan reached 15 projects, worth $2.75 billion, in the form of loans, concessional financing, and grants, by the end of last March, according to Al-Mamlaka TV.اضافة اعلان

The bank has disbursed about 46.42 percent of the total funds set for financing these projects, with a total of $1.48 billion out of the total commitments amounting to $2.75 billion, as the bank’s portfolio in Jordan expanded rapidly to support reforms for the fiscal years 2020-2022 to enhance the response to the coronavirus pandemic and recovery from its effects.

The World Bank Group used concessional financing resources to support Jordan’s response to the effects of the Syrian crisis, through an exceptional $200 million allocation and the establishment of the Global Concessional Financing Facility, which was used to help finance several projects in Jordan.

Ongoing projects cover 10 sectors, including finance, health, education, social protection, governance and social sustainability.

In the finance, competitiveness and innovation sector, the economic opportunities for Jordanians and Syrian Refugees Project, the bank financing tool is valued at $349 million in addition to another project to funding innovative startups worth $50 million.

The youth, technology and jobs sector was funded with a value of $163.1 million and a $1 million to promote financial inclusion in Jordan.

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