Arab Fund launches a five-year country partnership strategy with Jordan
The Country Strategy will be supported by a financing package of $690 million
The Joint Declaration for the launching of the Country Partnership Strategy (CPS) for Jordan (2025-2029) along with a loan agreement were signed on the sidelines of the joint annual meetings of Arab Financial Institutions in Kuwait.
The joint annual meetings were held under the auspices of H.E. Prime Minister of Kuwait Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah, and in the presence of H.E. Sheikh Fahad Yousef Saud Al-Sabah, Acting Prime Minister and Minister of Interior, who delivered the opening remarks, and H.E. Eng. Noora Al-Fassam, Minister of Finance, and Minister of State for Economic Affairs and Investments.
Kuwait – The Arab Fund for Economic and Social Development signed today a Joint Declaration with the Hashemite Kingdom of Jordan, represented by H.E. Zeina Toukan, Minister of Planning and International Cooperation, marking the launch of Arab Fund's 1st Country Partnership Strategy (CPS) to support Jordan's economic resilience and promote inclusive growth. A KWD21 million loan agreement was signed marking the start of the Country Strategy.
The CPS encompasses a financing package of KWD211 million (about $690.2 million), that may increase to support Jordan's resilience in response to unforeseen economic shocks. In addition, the Arab Fund will leverage its partnerships with other development partners, mobilizing more financial resources to implement the strategy.
Badr Al-Saad, Director General and Chairman of the Board of the Arab Fund for Economic and Social Development, stated that the strategic partnership with the Hashemite Kingdom of Jordan marks a significant milestone in the Fund's ongoing commitment to fostering sustainable development across the Arab world. 'By focusing on key areas such as infrastructure, education, and private sector growth, we aim to contribute to inclusive and sustainable economic progress, aligning with our vision for a prosperous and interconnected future', he added.
Country Partnership Strategy aims to strengthen development relations between the two parties and respond to Jordan's needs and priorities based on the Economic Modernization Vision 2033. It will focus on two main pillars:
Improving social services — including water supply infrastructure, improving production of renewable energy and export of electricity, and improving TVET education. This will support enhancing access to quality social services through public-private partnerships, particularly in health and early childhood education, and developing digital infrastructure and boosting digital skills needed for the digital economy among youth and women.
Unlocking the potential of the private sector through investment in high-value industries and support for SMEs and startups. This aims to unleash private sector potential through impactful investments in targeted sectors, as well as financing SMEs and innovative startups and exports.
The loan from the Arab Fund will finance constructing an onshore gasification unit to convert natural gas from liquid to gas and its connection to gas pipelines, reinforcing Jordan's resilience against energy supply disruptions. The project is expected to be completed by the end of 2027.
The CPS will support Jordan in narrowing the gaps across six sustainable development Goals: SDG 3: Good Health and Wellbeing; SDG 4: Quality Education; SDG 6: Clean water and sanitation; SDG 7: Affordable and Clean Energy; SDG 8: Decent Work and Economic Growth and SDG9: Industry innovation and infrastructure.
The Arab Fund has been a long stand supporter to Jordan since the establishment of the Fund in 1974, providing 817.1 million Kuwaiti Dinars (approximately $2.67 billion) and covering key sectors such as energy and electricity, agriculture and rural development, social services, as well as transport, water and sanitation, industry, and mining.
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