World Bank Group, Ministry of Planning and International Cooperation launch new 5-year country partnership

AMMAN - The Ministry of Planning and International Cooperation and the World Bank Group (WBG) launched on Monday the new Jordan Country Partnership Framework (CPF) for 2024-2029 which aims to support inclusive and green growth and promote job creation, especially for youth and women.

The new 5-year CPF marks the next phase of the strong and long-term partnership between Jordan and the WBG, according to a statement from the World Bank.

"Over the past two decades, the Kingdom has shown remarkable resilience in navigating exogenous shocks and crises. Jordan has also contributed significantly to the international community by hosting Syrian refugees, leading the way on climate action, and promoting peace and prosperity in a challenging region," the statement said, adding," Yet, Jordan has averaged 2.2 per cent growth over the past decade, unemployment is at 21.3 per cent and despite recent gains, female labor force participation hovers around 15 per cent."

 “The new CPF focuses on harnessing Jordan’s greatest source of wealth—its human capital, particularly youth and women—and integrates climate action in the country’s growth model,” said Jean-Christophe Carret, World Bank Country Director for the Middle East Department.

“The CPF will support the successful implementation of Jordan’s economic and public sector modernization reforms and help strengthen the country’s resilience to future shocks."

The CPF will support Jordan to deliver on its Economic Modernisation Vision (EMV) and its Executive Program, and the Public Sector Modernisation Roadmap, it said.

The new WBG strategy will focus knowledge and analytics, pipeline programmes, and partnerships on three High-Level Objectives: creating more and better private sector jobs, improving human capital outcomes and increasing resilience and sustainability, including in the water, energy and urban development sectors.

  “The private sector can serve as a tremendous driving force for growth and job creation in Jordan,” said Aftab Ahmed, Regional Director for the IFC.

 “Through this CPF, the WBG will continue to support reforms that can unleash the power of the private sector and boost competitiveness, especially in high-potential sectors such as digital development, tourism, and climate related services, paving the way for better employment opportunities, including for young people and women," Ahmed said.

Minister of Planning and International Cooperation ZeinaToukan was quoted in the statement as saying, “The new CPF reiterates the long-term partnership that Jordan enjoys with the WBG. It will assist Jordan to deliver on its development priorities under EMV Executive Program 2023-2025, and the Public Sector Modernization Roadmap, through the mobilization of various financial and technical support instruments, to realize economic growth, improve key services, and enhance private sector development."

Two new anchor operations were also approved by the World Bank Board of Executive Directors for a total amount of US$576 million, that will support the early implementation of the CPF, and which are expected to be signed within the coming period, according to WBG.

"Through this new phase of the partnership, the WBG recognises the important role Jordan plays in the region and globally; and reiterates its commitment to assist the Kingdom to deliver on its modernization agenda, harness its human capital, and partner with the private sector to realize its aspirations for inclusive and green growth and jobs for the people of Jordan."