Jordan: World Bank considers additional financing for project promoting sustainable agriculture
According to data monitored by Al Mamlaka TV on Sunday, the bank indicated that the additional financing is estimated at $179 million to boost the resilience of agriculture and expand innovation and value chains.
The total cost of the programme after the addition of the new funding is about $346.5 million, distributed among financing from the International Bank for Reconstruction and Development (IBRD) of $185.6 million, government financing of $106 million.
The total value also includes grants from trust funds with $43.9 million from the concessional financing facility and $9 million from the forced displacement fund, in addition to commercial financing worth $2 million.
The proposed additional funding aims to build on existing institutional arrangements and expand the programme's impact by funding two key areas.
The first is improving rainwater harvesting planning through the national commission using the results of a previous impact assessment, which recommended continuing mapping work, improving governance and coordination, reviewing tender documents, and employing digital technologies in order to expand guidance and training on climate-smart practices.
The second component aims to enhance the competitiveness of the agri-food sector and improve the enabling environment for farmers and the private sector by reducing the risks associated with investing in value chains.
This includes expanding the use of digital technology to access marketing and export promotion services in rural and urban areas, expanding virtual training programmes to develop skills and employment opportunities, especially for women and refugees, reviewing the application of agricultural labour laws.
It also includes improving the regulatory environment and strengthening the capacity of cooperatives, especially farmers' associations, to increase their participation in the country.
This approach comes as part of Jordan's efforts to achieve sustainable and comprehensive agricultural development that ensures enhancing food security, increasing food exports and creating new job opportunities, especially in rural areas and the most vulnerable groups.
Untapped potential
The World Bank stressed that the Jordanian agricultural sector has 'great' untapped potential that promotes economic growth, creates jobs and enhances food security, as about 25 per cent of low-income people in Jordan depend on agriculture as a source of income.
Although primary agriculture contributed 4.8 per cent of the gross domestic product (GDP) in 2024, the broader agri-food sector accounted for 20-25 per cent of the GDP.
According to FAOSTAT data, primary agriculture and the agri-food sector account for 3 per cent and 11 per cent of formal employment respectively, with an additional significant contribution through informal employment.
The World Bank stressed that increased investment in the agri-food sector can stimulate rural job creation both on farms and along the value chain, including processing, packaging, distribution, services and transportation.
© Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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