PM meets with president of World Bank Group

AMMAN — Jordan is "eager” to enhance its strategic partnership with the World Bank in a way that contributes to supporting the government's efforts to achieve economic recovery and sustainable economic growth, Prime Minister and Minister of Defence Bisher Al Khasawneh said on Sunday. 

Khasawneh's remarks came during a meeting with the World Bank Group (WBG) President David Malpass, who is currently heading a delegation of senior officials on a visit to the Kingdom, the Jordan News Agency, Petra, reported. 

The premier also highlighted the importance of the WBG's support to Jordan, mainly in light of challenges imposed by the COVID-19 pandemic. 

The prime minister stressed that this support has contributed to enhancing the government's efforts in providing economic and social protection programmes, creating jobs for Jordanians and moving ahead in economic and structural reforms to boost the Kingdom's financial stability. 

He also referred to the importance of enhancing cooperation between the Kingdom and the WBG to stimulate investment and finance partnership projects between the public and private sectors through the WBG-affiliated International Finance Corporation. 

The government is working on attracting more local and foreign investments to find solutions to economic challenges and provide jobs for the Jordanian youth, Khasawneh said, referring to the government decisions aimed at facilitating investment procedures. 

He reviewed the economic challenges facing Jordan as a result of the pandemic, regional conditions and receiving some 1.3 million Syrian refugees, and the pressure on the education, health and water sectors, as well as jobs. 

Malpass highlighted the partnerships between the bank and Jordan, commending the Kingdom's reforms and voicing the WBG's readiness for more cooperation with Amman to overcome economic challenges. 

The president referred to the "hard times" facing the global economy as a result of the pandemic, which adds extra burdens on countries' economies.

He also said that Jordan has potential in multiple sectors, such as communications and tourism, adding that the Kingdom enjoys efficiency in realising gains at the government and business levels.  

As for the economic growth, Malpass noted that the growth in 2021 was weak and voiced aspiration for 2022 to be better, which depends on the steps to be followed.

He stressed that youth and unemployment are the main challenges, which require attracting more foreign investments that generate jobs and constitute a real addition for economic growth rates.