World Bank Approves Restructuring of 'Employment Project' in Jordan - Jordan News
--(Al-Mamlaka TV)
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Jordan Times
21 hours ago
- Jordan Times
World Bank continues to review restructuring of National Employment Programme
AMMAN — The World Bank is in the process of finalising a restructuring plan for its Employment and Skills Project in Jordan, aimed at boosting private sector job creation and enhancing workforce skills. Citing a World Bank document, Al Mamlaka said that the restructuring is currently under review for final approval, with the goal of signing it with the Jordanian government. The primary objectives of the restructuring are to "improve implementation efficiency, expand the scope of impact, and increase the number of beneficiaries." In particular, the restructuring focuses on better aligning workforce skills with the demands of the labour market. The document emphasises that the restructuring will retain the project's strategic goals, including supporting the employment of Jordanians, particularly targeting women and youth. These groups are central to the project's mission of expanding economic opportunities. The project has already made significant strides, according to the document. Key achievements include providing on-the-job training to thousands of beneficiaries and fostering stronger partnerships between the government and private sector. The project, the document said, has contributed to improving the management systems of government programmes tied to the labour market, notably through enhanced monitoring and follow-up mechanisms. It has also played a role in regulatory reforms designed to help employers more easily recruit skilled workers. Launched in April 2022 as part of Jordan's response to the COVID-19 crisis, the initiative was aimed at boosting job recovery and increasing employment among youth (ages 18 to 40) in the private sector. The restructuring follows a comprehensive review of the project's performance and progress, with a focus on streamlining activities and maximising the impact of financial resources. Earlier reports said that the World Bank had approved a $112 million funding package in December 2021 to support the project. Of that amount, $46.5 million (41.5 per cent) has already been disbursed. The National Employment Programme, which the project supports, provides wage subsidies, on-the-job training grants, and incentives for hiring women and people with disabilities. The programme aims to improve economic participation rates and ensure equal job opportunities. As part of the restructuring, the project's closure date will be extended to July 31, 2028. This extension will allow for the completion of remaining activities and the expansion of its impact to benefit as many individuals as possible, while ensuring that targeted performance indicators are met, Al Mamlaka said.
Jordan News
a day ago
- Jordan News
World Bank Approves Restructuring of 'Employment Project' in Jordan - Jordan News
World Bank Approves Restructuring of 'Employment Project' in Jordan The World Bank has approved the restructuring of the Youth, Technology, and Jobs – Employment and Skills Project in Jordan, aimed at 'enhancing implementation efficiency, broadening impact, increasing the number of beneficiaries, and better aligning workforce skills with labor market needs.' اضافة اعلان According to a World Bank evaluation report, the restructuring maintains the project's strategic objectives, which focus on supporting employment opportunities for Jordanians, particularly for target groups such as women and youth. Launched in April 2022 to support the National Employment Program in response to the COVID-19 crisis, the project seeks to accelerate job recovery and boost youth employment (ages 18–40) in the private sector. The report explained that the restructuring followed a thorough review of performance indicators and progress, aiming to merge overlapping activities under unified components to reduce duplication and maximize financial resources. Key Amendments Merging practical training, skills programs, and occupational safety activities into a single sub-component titled 'Skills Training for Qualified New Employees.' Creating a new sub-component for advanced skills training focusing on high-demand jobs in Jordan's labor market, aligned with private sector needs and market developments. Funding Disbursement The project's total financing amounts to USD 112 million through a World Bank loan. By the end of June, USD 46.5 million had been disbursed, representing 41.5% of the total. Spending is expected to accelerate following the restructuring. As part of the restructuring, the Bank reallocated USD 1.2 million from Component 1 (supporting the National Employment Program) to Component 2 (project management, monitoring, and evaluation), to strengthen administrative capacity, improve monitoring systems, enhance execution quality, and speed up planned activities. Project Components Support for the National Employment Program – initially USD 110 million, now USD 108.8 million after reallocation. This component funds on-the-job training grants, wage subsidies, skills development programs, and incentives to hire target groups such as women and persons with disabilities. Project Management, Monitoring & Evaluation – increased from USD 1.7 million to USD 2.9 million. This includes monitoring and evaluation activities, reporting, surveys, financial audits, and administrative support to ensure transparency and effective implementation. The World Bank also decided to transfer responsibility for supervising Component 2 from the Ministry of Planning and International Cooperation to the Ministry of Labor, to improve coordination, reduce administrative hurdles, and accelerate implementation and disbursement. Extension of Project Timeline The Bank approved an 18-month extension, moving the project's closing date to November 30, 2028. This aims to complete remaining activities, expand impact to reach more beneficiaries, and ensure achievement of all target indicators. The report highlighted 'significant progress' in several areas, including support for thousands of beneficiaries through on-the-job training programs, strengthening public-private partnerships—particularly in direct post-training employment—and improving government program management systems linked to the labor market. Future Plans include: Expanding the beneficiary base, with a greater focus on disadvantaged groups. Strengthening the link between project-funded training and direct employment opportunities in the private sector. Enhancing cooperation with vocational training and technical education institutions to develop curricula aligned with market needs. Improving monitoring systems to measure the project's impact on employment and productivity. The National Employment Program forms part of the government's broader labor market reform and economic growth strategy, aligning with Jordan's Economic Modernization Vision 2033, which aims to create one million new jobs, strengthen the link between education, training, and labor market needs, and increase women's and youth participation in the economy. --(Al-Mamlaka TV)
Jordan News
a day ago
- Jordan News
U.S. Dollar Remains Stable Globally - Jordan News
U.S. Dollar Remains Stable Globally The U.S. dollar remained stable against major currencies on Tuesday, as global markets focused on the outcome of the White House summit with European countries. اضافة اعلان The dollar index rose by 0.31 percent to reach 98.122. According to Bloomberg News, the dollar stood at 147.835 yen, showing little change from U.S. trading levels late Monday. The euro held steady at USD 1.1667, up 0.06 percent, while the British pound recorded USD 1.351, gaining 0.1 percent after rebounding from its lowest range in the past week. The New Zealand dollar climbed 0.1 percent to USD 0.59245, while the Australian dollar stood at 0.6495 against its U.S. counterpart, also up 0.1 percent in early trading. --(Petra)
