WB approves $125m to support agriculture in Kingdom

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World Bank. (File photo: Jordan News)
AMMAN — The World Bank has agreed to provide $125 million to finance a Jordanian project that supports agricultural development and value chains through resilience to climate change and sustainability, Al-Mamlaka TV reported.اضافة اعلان

The total value of the project may reach $762 million, funded by the government and trust funds; it is based on Jordan’s National Plan for Sustainable Agriculture (2022–2025).

The project addresses challenges faced by the agricultural sector in Jordan through partnerships between the public and private sectors, and hopes to enhance the resilience of the agricultural production system, which is affected by climate change, and to guide the sector toward a more sustainable growth path.

It is also set to contribute to improving the competitiveness of the agri-food sector by strengthening the environment for agribusiness, and making the sector more attractive for investment.

The World Bank had indicated that the agricultural sector in Jordan is an important source of income, employment and exports, and has much untapped potential, pointing out that a quarter of Jordan’s poor depend on agriculture for their income.

The bank added that climate change “severely affects” agriculture in Jordan, due to rising temperatures and declining rainfall, and warned of a recurrence of drought, which will lead to increased demand for irrigation by  water-dependent crops.

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