Micro, Small and Medium Enterprise (MSME) development for inclusive growth project has resulted in the creation of over 2,000 private sector jobs for the most disadvantaged segments of society. 62% of the project’s beneficiaries came from outside Amman, where unemployment and poverty rates are high. Women-owned enterprises represented 85% of the beneficiaries. Youth, who suffer from the highest unemployment rates, represented more than 45%.
Second Education Reform for Knowledge Economy project has contributed to the expansion of quality kindergartens and highly innovative, alternative childcare all over the country, with the gross enrolment rate increasing from 51.8% in 2009/10 to 60.1% in 2014. A system was created to allow the Ministry of Education to publish monitoring and evaluation reports online. New schools and extensions were built. Enrolment rates in primary and secondary schooling increased from 96.9% to 98.1%, and 60.4% to 76.9%, respectively.
Syrian crisis response:
Emergency Services and Social Resilience Program (ESSRP) grant helped seven municipalities respond to the increased demand for services due to the large influx of Syrian refugees. In the first year of implementation, the project funded goods, works and basic services amounting to $20 million dollars. This included solid waste collection, rehabilitation of basic infrastructure, improvements to the roads network, lighting in the streets, and addressing rising community tensions. For 2015, the Project’s scope was expanded to reach 16 municipalities.
Justice Sector Reform project (Japan Social Development Fund & State and Peace-building Fund) provided improved legal services to vulnerable communities, including poor Jordanians, and Iraqi, Palestinian, and Syrian refugees. The project is implemented by the Justice Center for Legal Aid (JCLA), a Jordanian civil society organization. In 2014, JCLA accepted 2,400 new cases for legal representation, of which over 1,800 were related to family law. Consultations were provided to 4,500 beneficiaries and 1,600 public awareness sessions were held, reaching more than 40,000 beneficiaries.
International Finance Corporation (IFC) has maintained a strong program in Jordan with long-term finance investments totaling almost US$1 billion dollars, of which US$530 million has been mobilized from other investors from January 2011 to date. Landmark investments in the renewable energy sector include: (i) Tafila Wind - US$221 million debt package to finance the country’s first privately owned renewable energy facility; (ii) “Seven Solar Sister” - US$208 million financing package to support the largest private sector-led solar PV initiative in the MENA region. Other recent investments include a repeat investment of around US$94 million in Queen Alia Airport, US$11 million in Luminus, the leading private vocational and technical training provider in the country, and US$2 million to FINCA Jordan, a leading microfinance organization. The Fiscal Year 2015 pipeline includes several investments in renewables as part of the Jordan Renewable Program, and continued support of the financial sector including through IFC’s trade finance program. IFC has also continued to provide advisory services to strengthen financial infrastructure (credit bureau, secured lending), build the capacity of microfinance institutions, improve corporate governance, simplify business inspections, and advance energy efficiency.
Multilateral Investment Guarantee Agency’s (MIGA) outstanding gross exposure from investments into Jordan stood at US$256.1 million as of January 2015. In FY13, MIGA issued a US$13 million political risk insurance guarantee to a U.S. investor for the expansion of the AS Samra Wastewater Treatment Expansion Project. MIGA’s other active project in Jordan involves the expansion and operation of existing bromine and bromine derivatives manufacturing plants. MIGA issued a US$199.8 million guarantee for that project covering an equity investment by Albemarle Corporation (United States) in Jordan Bromine Company Limited in FY12. MIGA’s support to foreign private investors sends a strong signal that Jordan remains a viable investment destination.
Last Updated: Mar 01, 2015