Planning Ministry receives $2.1 billion in pledges to finance projects
Ammon News - The Ministry of Planning and International Cooperation received new pledges to finance major projects through grants and loans worth more than $2 billion during April.
The Ministry signed financing agreements and secured pledges worth $2.1 billion with several entities, including the World Bank, the German Development Bank, the Dutch Embassy, and the Arab Fund for Economic and Social Development, according to a summary report on the achievements of ministries and government institutions for April.
In the report, published by the Ministry of Government Communication, the Ministry of Planning signed financing agreements with the World Bank worth $1.1 billion to finance a group of projects aimed at promoting growth, supporting startups and small and medium-sized enterprises, and expanding social protection.
The funding includes a $400 million Development Policy Agreement for Growth and Competitiveness in Jordan, aimed at unlocking investment opportunities, increasing exports, and creating jobs, particularly for youth and women.
The second phase of the Jordan Innovative Startup Fund, with a budget of $50 million, aims to boost early-stage equity financing for high-growth startups in key sectors such as information and communications technology, financial technology, green technology, and health technology.
The Resilient and Sustainable Social Protection Program ($400 million) is designed to improve Jordan's ability to respond to shocks while enhancing support for vulnerable groups.
Additional financing for the Electricity Sector Supply Efficiency and Reliability Program ($250 million) enhances Jordan's support for the transition to clean energy, while improving grid stability and financial sustainability.
Also, the Ministry signed a €200 million agreement with the German Development Bank to support the implementation of the Economic Modernization Vision and economic reforms.
The Ministry of Planning and the Dutch Embassy in Amman signed a grant agreement worth €31 million to contribute to financing the National Water Carrier Project and provide sustainable solutions to address water scarcity and the effects of climate change.
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