World Bank allocates USD700M to boost human capital, education in Jordan
(MENAFN) The World bank has announced its commitment to provide USD700 million in loan financing to Jordan for two new programs aimed at bolstering investments in education, health, and social protection. These initiatives, outlined by the World Bank in a statement, are designed to strengthen human capital in Jordan by focusing on targeted investments in key sectors and enhancing the resilience of Jordanian families against various economic shocks.
A significant portion of the funding, totaling USD300 million, has been allocated to the "Human Capital" program. This program aims to improve governance and effectiveness within Jordan's social sectors, including education, health, and social assistance. By enhancing governance and accountability in public spending, the program seeks to achieve sustainable outcomes that benefit all Jordanians, while also building resilience to climate change impacts and safeguarding families from adverse economic conditions.
The second program, titled "Masar," will receive USD400 million in financing. This initiative is geared towards equipping Jordanian children and youth with the necessary skills to thrive in the labor market amidst ongoing economic transformations across the Kingdom. Key objectives of the Masar program include expanding access to basic education, facilitating smoother transitions from school to employment, enhancing vocational and technical education and training to meet labor market demands, and optimizing the efficiency of Jordan's education system and human resources management.
These programs underscore the World Bank's commitment to supporting Jordan's development agenda by addressing critical areas such as education quality, healthcare access, and social welfare. By strengthening human capital and fostering educational opportunities aligned with labor market needs, these initiatives aim to empower Jordanian youth and enhance the country's long-term economic resilience and social stability.
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