The World Bank Group has announced a new Country Partnership Framework (CPF) with Jordan for the period of 2024-2029, aiming to create substantial opportunities for the Jordanian population. The CPF places a strong emphasis on inclusive green growth, targeting three main areas: the creation of more and better private sector jobs, particularly for youth and women; improvement in human capital outcomes; and increased resilience and sustainability through green investments. The framework stresses that these goals are unattainable without the full economic participation of women and youth.
Reflecting the aspirations of the Jordanian people, the CPF has been formulated through extensive consultations with diverse stakeholders across the country. It aligns with Jordan’s 10-year Economic Modernization Vision and Public Sector Modernization Roadmap, which the government adopted in 2022.
Rooted in a comprehensive understanding of Jordan’s diverse economic and developmental landscape, the CPF builds on a long-standing partnership between Jordan and the World Bank Group. Over the past five years, the World Bank’s active portfolio in Jordan has expanded from four to 17 projects, totaling $4.5 billion. These projects span various sectors including education, water, energy, agriculture, and job creation. Investments by the International Finance Corporation (IFC) in Jordan have doubled since 2010, while Jordan represents the most diversified and third-largest investment exposure for the Multilateral Investment Guarantee Agency (MIGA) in the region.
The 2024-2029 CPF aims to enhance this partnership further. Ambitious plans include improving the business climate, attracting private investment in critical sectors such as tourism, digital services, and green industries, supporting Jordan’s role as a refugee host, and advancing the country’s digitalization efforts. Additionally, the CPF aims to revitalize the education system and technical and vocational education to equip young people with the necessary skills for future jobs, while building resilience through investments in green energy and water security.
The World Bank Board endorsed the CPF in April 2024, simultaneously approving two new anchor operations to support its early implementation. The Jordan People-Centric Digital Government Program for Results (PforR), financed by a $321 million loan and a $29 million grant from the Global Concessional Financing Facility (GCFF), aims to enhance public service delivery and expedite digital transformation. The Enhancing Women’s Economic Opportunities Operation, backed by a $221 million loan and a $5 million grant from the Early Learning Partnership’s Invest in Childcare Initiative, addresses key barriers preventing women from joining and remaining in the labor market.
Ali A. Al-Meshari, Senior Vice President of Technology, Oversight & Coordination at Aramco, stated, “Aramco has stated its ambition to achieve net zero greenhouse gas emissions across its wholly-owned operated assets by 2050, and sees opportunities to potentially build a lower-carbon new energy business. Innovative technologies deployed at scale can help reduce the costs of reducing carbon emissions, and we are investing in developing these through our R&D, venture capital, and technology deployment programs. We see the technologies of Aeroseal, Spiritus, and Rondo to have the potential to scale globally, and specifically in the Middle East.”
This ambitious CPF sets a transformative agenda for Jordan’s development, leveraging significant financial and technical resources from the World Bank Group to drive sustainable growth and improve the quality of life for Jordanians.
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