World Bank Backs Jordan With $1.1 Billion for Economic Reform and Jobs
The World Bank announced on Tuesday it would provide Jordan with $1.1 billion in new financing to help the country weather ongoing economic challenges and implement key reforms. The funding package targets inclusive growth, job creation, social support, and a cleaner energy future.
The announcement comes as Jordan is struggling with high debt and unemployment resulting from multiple regional crises. Jordan’s public debt has surpassed 117% of its gross domestic product, and unemployment stands at 22.3% nationally and 46% among youth, according to the World Bank.
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Four major projects are included in the initiative. A $400 million investment will seek to improve the business environment, promote exports, and create jobs, particularly for women and youth. Another $50 million will support startups and small businesses in sectors such as financial technology, information technology, and green technology, with a goal of attracting $150 million in private investment and generating 1,500 jobs.
The plan also includes a $400 million social protection program that will expand cash assistance to 1.2 million people, offer health insurance to 150,000, and improve early warning systems for 1 million residents. An additional $250 million will support energy efficiency and help Jordan transition to a more sustainable energy model.
“Jordan continues to demonstrate commitment to advancing critical reforms to build a more competitive, inclusive and resilient economy,” Jean-Christophe Carret, the World Bank’s Middle East director, said. “These new programs reflect a comprehensive approach—supporting private sector-led investment, entrepreneurship, social protection and energy transition—that is critical to achieving sustainable growth.”
Jordanian Planning Minister Zeina Toukan said the financing aligns with Jordan’s long-term development strategy.
