Amman: The World Bank has announced a significant funding initiative, unveiling a $1.1 billion budget to aid Jordan in realizing its economic modernization goals. This initiative is expected to foster socio-economic resilience amidst ongoing challenges.
According to Kuwait News Agency, the World Bank's statement emphasized Jordan's aspiration to enhance its socio-economic stability as it navigates persistent crises. The funding will be channeled into four distinct projects aimed at catalyzing reforms for inclusive growth and job creation. These projects will support startups and small and medium enterprises, expand social assistance programs, and promote sustainable energy solutions to drive the country's economy.
Jean-Christophe Carret, World Bank Division Director for the Middle East Department, remarked on Jordan's commitment to vital reforms for building a competitive and resilient economy. Carret noted that these new programs offer a comprehensive strategy to support private sector investments, entrepreneurship, social protection, and energy transition. These efforts are crucial for achieving sustainable growth. He also highlighted that this period marks a significant transition for Jordan, aligning with the strategic partnership with the World Bank for 2024 to 2029, promising fruitful outcomes.