Latest news with #MinistryofPlanningandInternationalCooperation
Jordan News
19-06-2025
- Business
- Jordan News
Jordan and Germany Sign Three Agreements Worth €35 Million to Support Entrepreneurship - Jordan News
The Ministry of Planning and International Cooperation signed three grant agreements with the German Development Bank (KfW) with a total value of €35 million to implement the "Employment Through Entrepreneurship" project. اضافة اعلان The signing ceremony was attended by Dr. Bertram von Moltke, Ambassador of the Federal Republic of Germany to the Hashemite Kingdom of Jordan, and Matthias Schmidt-Rosen, Director of the KfW Office in Jordan, who signed the agreements on behalf of the bank. Matthias Schmidt-Rosen stated: 'Germany is firmly committed to supporting the development of the private sector in Jordan as a key driver for job creation. Through today's grant agreement, we will provide funding to micro, small, and medium-sized enterprises (MSMEs) to support their growth, enabling the creation of new, formal, and sustainable jobs, and enhancing women's economic empowerment.' Minister of Planning and International Cooperation Zeina Toukan expressed her appreciation for Germany's continuous support of Jordan's development priorities, emphasizing that this support marks another milestone in the strategic partnership between the two countries. She added: 'This new support will help empower micro, small, and medium-sized enterprises — especially those led by women — enhance the entrepreneurial ecosystem, and expand access to finance in line with the priorities of the Economic Modernization Vision.'
Ammon
19-06-2025
- Business
- Ammon
Jordan, Germany sign €35 million grant agreements to support local entrepreneurship
Ammon News - The Ministry of Planning and International Cooperation has signed three grant agreements with the German Development Bank (KfW) totaling €35 million, to implement the "Employment through Local Entrepreneurship" project. The agreements were signed in the presence of German Ambassador to Jordan Bertram von Moltke, and KfW's Country Director, Matthias Schmidt-Rosen, who represented the bank. Minister of Planning and International Cooperation Zeina Toukan expressed Jordan's appreciation for Germany's ongoing commitment to supporting national development goals. She described the grants as a meaningful step forward in the strategic partnership between the two countries. According to Toukan, the project will empower micro, small, and medium-sized enterprises (MSMEs), improve access to finance, and promote a more inclusive entrepreneurial environment, particularly by supporting women's economic participation, in line with the Kingdom's Economic Modernization Vision.
Jordan News
22-05-2025
- Business
- Jordan News
Jordan's Foreign Grants Drop by 46.2 Million Dinars in Q1 2025 - Jordan News
Foreign grants to Jordan reached 3.4 million dinars during the first quarter of 2025, a sharp decline compared to 49.6 million dinars during the same period last year, according to data from the Ministry of Finance. اضافة اعلان This marks a decrease of 46.2 million dinars, or 93.2%, compared to Q1 2024, as reported by Al Mamlaka. Despite the drop in disbursed grants, the Ministry of Planning and International Cooperation secured new pledges exceeding $2 billion in April alone, for funding key development projects through grants and loans. According to a brief report on the achievements of government ministries and institutions in April, the Ministry of Planning signed funding agreements and received commitments totaling $2.1 billion from several partners, including: The World Bank The German Development Bank (KfW) The Dutch Embassy The Arab Fund for Economic and Social Development Rise in Domestic Revenues Meanwhile, domestic revenues increased by 150 million dinars in Q1 2025, reaching 2.16 billion dinars, up from 2.01 billion during the same period last year. Tax revenues accounted for 1.582 billion dinars, distributed as follows: General sales tax: 1.076 billion dinars Income and profit tax: 419 million dinars Real estate sales tax: 24 million dinars Trade and international transaction taxes: 63 million dinars Non-tax revenues amounted to 578 million dinars for the same period. Public Debt Update Jordan's gross public debt, including debt held by the Social Security Investment Fund (SSIF), rose to 118.4% of GDP by the end of Q1 2025. However: It drops to 91.5% when excluding SSIF-held debt And further declines to 90.9% after excluding the deposit at the Central Bank earmarked for repaying the Eurobond maturing in June These developments reflect ongoing fiscal challenges and a shift toward relying more on internal revenue sources and external loan commitments rather than direct grant disbursements.
Ammon
15-05-2025
- Business
- Ammon
Norwegian Ambassador commends Jordan's role in delivering aid to Gaza
Ammon News - Norwegian Ambassador to Jordan Mona Juul affirmed her country's appreciation for the key role Jordan is playing, under the leadership of His Majesty King Abdullah II, in delivering and facilitating humanitarian aid to the Gaza Strip. On the occasion of Norway's National Day, Juul expressed deep concern over the blockade imposed by Israel on Gaza. She stressed the importance of Israel's compliance with international humanitarian law and allowing the delivery of humanitarian assistance to the Strip. She also noted that Norway has recently recognized the State of Palestine. The ambassador highlighted the strength of the relationship and partnership between the two countries across various fields, supported by the distinguished ties between the royal families. She noted that mutual visits have contributed to the development of these relations. Juul pointed to the existence of excellent cooperation, consultation, and coordination between the two countries at different levels on regional issues and matters of mutual interest. She added that despite the modest volume of trade exchange, there is a shared interest in enhancing and expanding economic cooperation. She emphasized the promising opportunities for collaboration in the renewable energy sector, noting Norway's strong and efficient companies in this field and Jordan's growing interest in developing solar and wind energy. She added that other sectors of mutual interest could include tourism and organic agriculture. According to Juul, Norway's exports to Jordan mainly consist of oil, gas, seafood, and fish, while Jordan's exports to Norway primarily include textiles and vegetables. She stated that Norway is proud to partner in the Multi-Donor Trust Fund for Growth, implemented in cooperation with the Ministry of Planning and International Cooperation and the World Bank, to provide technical support aimed at stimulating growth in Jordan's economy. Norway, she added, remains committed to supporting Jordan's economic reform program for no less than the next five years. This year, the country pledged an additional USD 2 million to this effort. Juul stressed that human rights and women's empowerment are among Norway's top priorities, both domestically and internationally. She said Norway supports the International Labour Organization's efforts in Jordan to promote gender equality, safety, and inclusion in the workplace, in addition to supporting various women's organizations and local NGOs. She indicated that Norway's total contribution to development cooperation in Jordan is expected to reach nearly USD 14 million in 2024. Of this, USD 10 million is managed by the Norwegian embassy in Amman, while the remaining USD 4 million is administered from Oslo as humanitarian aid. The ambassador praised Jordan's generosity in hosting refugees and reaffirmed Norway's commitment to providing substantial support to Syrian and Palestinian refugees. She also commended Jordan's efforts to integrate Syrian refugee children into the national education system. She noted that Norway supports double-shift schools in collaboration with the Ministry of Education and contributed approximately USD 6.5 million to support the ministry in this area last year. Petra
Jordan Times
21-04-2025
- Business
- Jordan Times
Jordan completes 310 economic reforms since 2018
AMMAN — Jordan completed 310 of the 403 reforms it pledged in 2018 at the London Initiative conference, with a completion rate of 77 per cent, according to the Ministry of Planning and International Cooperation. The data of the ministry's Economic Reforms Implementation Support Unit, cited by Al Mamlaka TV on Monday, showed that the government continues to implement these reform measures, although they were scheduled to be completed by the end of 2024 and extended from 2022. This matrix constitutes a comprehensive national framework for structural and legislative economic reforms, aimed at maintaining macroeconomic stability, improving the business environment and increasing investments and exports. The matrix was officially launched during the London Initiative Conference "Jordan: Growth and Opportunity" in February 2019, with the support of the World Bank and development partners. The Economic Reform Matrix is a 'key' guidance document for government plans and programmes, wholly owned by the government, and is subject to annual review and update under the supervision of the Economic Reform Implementation Support Unit, to ensure alignment with growth and reform priorities. The updated version of the matrix consists of 12 axes instead of nine in its first version, covers 44 areas of reform compared with 37 in the first version, and includes 403 reform measures from only 254. The Cabinet approved the updated matrix for the period 2018-2024 in October 2022 as a reference document to measure progress in reforms, with its extension until 2024 instead of completion in 2022. In terms of the distribution of reforms by sector, the data showed "uneven" levels of progress and achievement, with the sectors of public finance, water and agriculture achieving the highest completion rates of 90 per cent, 91 per cent and 91 per cent, respectively. The fiscal pillar covered three reform areas with 21 measures, while the water pillar covered two reform areas with 23 measures, and agriculture five areas with the same number of measures. The public sector efficiency pillar, which was added as part of the recent expansion, included six areas of reform, including 46 procedures, with a completion rate of 87 per cent, which is among the highest completion rates in the new pillars. The achievement rate in the business environment improvement pillar reached 86 per cent, distributed over three areas and 29 procedures, while the labour market and skills development pillar, consisting of four areas and 44 procedures, achieved the same percentage. The investment and export promotion sector, which is central to its growth goals, included 65 actions distributed among six areas, and recorded a completion rate of 75 per cent. As for the pillars of enhancing social protection, it included one area with 28 measures, and the completion rate reached 79 per cent. The transport hub, which consists of four areas consisting of 28 actions, recorded a completion rate of 68, equal to the newly introduced tourism sector and included three areas and 22 actions. The energy sector had a completion rate of 58 per cent out of 36 measures distributed among four reform areas, while the access to finance and capital market sector had the lowest completion rate of 53 per cent, including three areas and 28 measures. At the end of 2022, amid the COVID-19 pandemic, the government decided to update its economic reform matrix to 12 optional pillars from nine, and to extend the credit rating process through 2023. The update included the addition of three new pillars: the public and private sectors, the tourism sector, and the separation of the water and agriculture pillars into two pillars. The implementation of this matrix is financed through the Multi-Donor Trust Fund for Inclusive Growth and Economic Opportunities, launched in Jordan in 2019. Donor commitments to the fund in Jordan amounted to more than $70 million, of which $45 million was allocated to the core programme and $25.5 million to emergency cash transfers to support Jordan's response to the COVID-19 pandemic for the most vulnerable groups. By the end of 2022, the Economic Reform Implementation Support Unit identified six priority reform areas to focus support from the Trust Fund: government procurement, investment, improving the business environment, trade facilitation, good legislative practices and the tourism sector.
