Jordan, World Bank Sign 3 Agreements Worth $850M To Support Growth, Social Protection

(MENAFN- Jordan Times) AMMAN - Jordan and the World Bank on Friday signed three new project agreements worth $850 million on the sidelines of the 2025 Spring Meetings of the World Bank Group and the International Monetary Fund.

The agreements aim to support private sector-led economic growth, boost the social protection system, and expand opportunities for innovation.

The signing ceremony was attended by Minister of Planning and International Cooperation Zeina Toukan, World Bank Vice President for the Middle East and North Africa Ousmane Dione, and World Bank Regional Director for the Middle East Department Jean-Christophe Carret.

Both sides reiterated the“deep” partnership between Jordan and the World Bank, stressing their commitment to achieving tangible and inclusive results.

The three projects signed mark a“pivotal milestone” in Jordan's reform agenda as they seek to expand social protection coverage, improve the delivery of digital services, support start-ups, enhance early-stage financing, stimulate private sector-driven growth, and contribute to job creation.

Earlier, on April 8, the World Bank Group announced $1.1 billion in new financing to support Jordan's efforts to achieve the objectives of its Economic Modernisation Vision and build greater resilience on social and economic fronts in the face of ongoing shocks and crises.

The investments include initiatives aimed at improving citizens' living conditions by advancing reforms that promote inclusive growth and job creation, supporting startups and small and medium-sized enterprises, expanding social assistance programmes, and fostering a more sustainable future in the energy sector to stimulate economic activity across the country.

The Development Policy Financing for Growth and Competitiveness Programme, valued at $400 million, will support the government's initiatives to unlock investment opportunities, boost exports, and create more economic prospects, particularly for youth and women.

The second phase of the Jordanian Innovation Start-ups Fund (ISSF 2.0), worth $50 million, will focus on scaling up early-stage direct investments and encouraging private investment in high-growth start-ups within key sectors.

Meanwhile, the Resilient and Sustainable Social Protection Programme, with $400 million in funding, aims to boost Jordan's capacity to respond to shocks while improving the support provided to the most vulnerable groups in society.

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