Jordan secures over $2bln for development projects — ministry
According to a government performance report released by the Ministry of Government Communication, the financing agreements were finalised in April with major international partners, including the World Bank, Germany's KfW Development Bank, the Embassy of the Netherlands, and the Arab Fund for Economic and Social Development (AFESD).
The funds are intended to support Jordan's economic modernisation programme, enhance infrastructure, and strengthen social safety nets, the ministry said.
Agreements signed with the World Bank total $1.1 billion and target initiatives that stimulate economic growth, promote start-ups and small- and medium-sized enterprises (SMEs), expand social protection, and improve the reliability of the Kingdom's electricity supply, Al Mamlaka TV reported.
A key component includes a $400 million Development Policy Loan aimed at improving competitiveness, boosting exports, and increasing employment opportunities, particularly for youth and women. Another $400 million will support the Resilient and Sustainable Social Protection Programme, designed to strengthen the country's response to economic shocks and protect vulnerable populations.
Additionally, the second phase of the Jordan Entrepreneurship Fund, with a $50 million investment, will support high-growth start-ups in sectors such as ICT, fintech, green tech, and health tech. A further $250 million is allocated to enhance the efficiency and financial sustainability of the electricity sector, part of Jordan's transition to cleaner energy sources.
The ministry also signed a 200 million euro ($215 million) loan agreement with KfW to support the Kingdom's economic modernisation vision. The German development bank described the funding as 'unconditional financial credit' offered at a pivotal time for Jordan's reform agenda.
In a bid to bolster water security, The Netherlands committed 31 million euros ($33 million) in grant funding for the National Water Carrier Project, which aims to desalinate 300 million cubic metres of water annually. The project is expected to serve nearly four million residents and address worsening climate-related water shortages.
Meanwhile, Jordan launched a new five-year Country Partnership Strategy (2025–2029) with the AFESD, valued at $690 million. The strategic partnership will prioritise investments in water and energy infrastructure, vocational training, and private sector development.
The Kingdom secured a $65 million soft loan to finance the development of the Sheikh Sabah Al Ahmad Al Jaber Al Sabah LNG Port.
© Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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