Latest news with #ZeinaToukan
Zawya
28-04-2025
- Business
- Zawya
Jordan, World Bank sign 3 agreements worth $850mln to support growth, social protection
AMMAN — Jordan and the World Bank on Friday signed three new project agreements worth $850 million on the sidelines of the 2025 Spring Meetings of the World Bank Group and the International Monetary Fund. The agreements aim to support private sector-led economic growth, boost the social protection system, and expand opportunities for innovation. The signing ceremony was attended by Minister of Planning and International Cooperation Zeina Toukan, World Bank Vice President for the Middle East and North Africa Ousmane Dione, and World Bank Regional Director for the Middle East Department Jean-Christophe Carret. Both sides reiterated the 'deep' partnership between Jordan and the World Bank, stressing their commitment to achieving tangible and inclusive results. The three projects signed mark a 'pivotal milestone' in Jordan's reform agenda as they seek to expand social protection coverage, improve the delivery of digital services, support start-ups, enhance early-stage financing, stimulate private sector-driven growth, and contribute to job creation. Earlier, on April 8, the World Bank Group announced $1.1 billion in new financing to support Jordan's efforts to achieve the objectives of its Economic Modernisation Vision and build greater resilience on social and economic fronts in the face of ongoing shocks and crises. The investments include initiatives aimed at improving citizens' living conditions by advancing reforms that promote inclusive growth and job creation, supporting startups and small and medium-sized enterprises, expanding social assistance programmes, and fostering a more sustainable future in the energy sector to stimulate economic activity across the country. The Development Policy Financing for Growth and Competitiveness Programme, valued at $400 million, will support the government's initiatives to unlock investment opportunities, boost exports, and create more economic prospects, particularly for youth and women. The second phase of the Jordanian Innovation Start-ups Fund (ISSF 2.0), worth $50 million, will focus on scaling up early-stage direct investments and encouraging private investment in high-growth start-ups within key sectors. Meanwhile, the Resilient and Sustainable Social Protection Programme, with $400 million in funding, aims to boost Jordan's capacity to respond to shocks while improving the support provided to the most vulnerable groups in society. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Zawya
28-04-2025
- Business
- Zawya
Germany pledges $226mln loan to support Jordan's economic reforms
AMMAN — The German government has announced a €200 million concessional loan to Jordan, aimed at helping the country address economic challenges driven by regional conflicts and reinforcing the Jordanian government's comprehensive reform agenda. 'The concessional loan will help Jordan to navigate through economic challenges that are caused by the conflicts in the region,' a statement from the German Embassy in Amman said. 'Germany continues to support Jordan's economic, political and private sector reforms,' the statement added. The agreement was signed last week on the sidelines of the World Bank Spring Meetings in Washington DC, according to the statement. The agreement was signed by Minister of Planning and International Cooperation Zeina Toukan and Andrea Hauser, Member of the Management Committee of KfW Development Bank. Christine Toetzke, Director-General at the Federal Ministry for Economic Cooperation and Development in Germany, was quoted in the statement as saying at the signing ceremony, 'The Hashemite Kingdom of Jordan is a close partner to Germany. The Government of Germany commends the ambitious Jordanian reform agenda and the commitment of the Jordanian government and its people to hosting as many refugees from the region.' © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan Times
27-04-2025
- Business
- Jordan Times
Germany pledges €200 million loan to support Jordan's economic reforms
Minister of Planning and International Cooperation Zeina Toukan (right) and Andrea Hauser, Member of the Management Committee of KfW Development Bank (centre), sign a €200 million concessional loan to Jordan on the sidelines of the World Bank Spring Meetings in Washington DC (Photo courtesy of KfW Development Bank) AMMAN — The German government has announced a €200 million concessional loan to Jordan, aimed at helping the country address economic challenges driven by regional conflicts and reinforcing the Jordanian government's comprehensive reform agenda. 'The concessional loan will help Jordan to navigate through economic challenges that are caused by the conflicts in the region,' a statement from the German Embassy in Amman said. 'Germany continues to support Jordan's economic, political and private sector reforms,' the statement added. The agreement was signed last week on the sidelines of the World Bank Spring Meetings in Washington DC, according to the statement. The agreement was signed by Minister of Planning and International Cooperation Zeina Toukan and Andrea Hauser, Member of the Management Committee of KfW Development Bank. Christine Toetzke, Director-General at the Federal Ministry for Economic Cooperation and Development in Germany, was quoted in the statement as saying at the signing ceremony, 'The Hashemite Kingdom of Jordan is a close partner to Germany. The Government of Germany commends the ambitious Jordanian reform agenda and the commitment of the Jordanian government and its people to hosting as many refugees from the region.'
Jordan Times
27-04-2025
- Business
- Jordan Times
Jordan, World Bank sign 3 agreements worth $850m to support growth, social protection
Jordan and the World Bank on Friday sign three new project agreements worth $850 million on the sidelines of the 2025 Spring Meetings of the World Bank Group and the International Monetary Fund (Photo courtesy of World Bank) AMMAN — Jordan and the World Bank on Friday signed three new project agreements worth $850 million on the sidelines of the 2025 Spring Meetings of the World Bank Group and the International Monetary Fund. The agreements aim to support private sector-led economic growth, boost the social protection system, and expand opportunities for innovation. The signing ceremony was attended by Minister of Planning and International Cooperation Zeina Toukan, World Bank Vice President for the Middle East and North Africa Ousmane Dione, and World Bank Regional Director for the Middle East Department Jean-Christophe Carret. Both sides reiterated the 'deep' partnership between Jordan and the World Bank, stressing their commitment to achieving tangible and inclusive results. The three projects signed mark a 'pivotal milestone' in Jordan's reform agenda as they seek to expand social protection coverage, improve the delivery of digital services, support start-ups, enhance early-stage financing, stimulate private sector-driven growth, and contribute to job creation. Earlier, on April 8, the World Bank Group announced $1.1 billion in new financing to support Jordan's efforts to achieve the objectives of its Economic Modernisation Vision and build greater resilience on social and economic fronts in the face of ongoing shocks and crises. The investments include initiatives aimed at improving citizens' living conditions by advancing reforms that promote inclusive growth and job creation, supporting startups and small and medium-sized enterprises, expanding social assistance programmes, and fostering a more sustainable future in the energy sector to stimulate economic activity across the country. The Development Policy Financing for Growth and Competitiveness Programme, valued at $400 million, will support the government's initiatives to unlock investment opportunities, boost exports, and create more economic prospects, particularly for youth and women. The second phase of the Jordanian Innovation Start-ups Fund (ISSF 2.0), worth $50 million, will focus on scaling up early-stage direct investments and encouraging private investment in high-growth start-ups within key sectors. Meanwhile, the Resilient and Sustainable Social Protection Programme, with $400 million in funding, aims to boost Jordan's capacity to respond to shocks while improving the support provided to the most vulnerable groups in society.
Jordan Times
17-04-2025
- Business
- Jordan Times
Jordan signs €31 grant agreement with Dutch government to finance National Carrier Project
Minister of Planning and International Cooperation Zeina Toukan and Dutch Ambassador to Jordan Harry Verweij on Thursday sign a 31 million euros grant agreement to finance the Aqaba-Amman Water Desalination and Conveyance Project (Photo courtesy of the Ministry of Planning) AMMAN — The Ministry of Planning and International Cooperation on Thursday signed a grant agreement with the Dutch government to finance the Aqaba-Amman Water Desalination and Conveyance Project with a total of 31 millioneuros. The agreement was signed by Minister of Planning and International Cooperation Zeina Toukan and Dutch Ambassador to Jordan Harry Verweij, on behalf of the Dutch state-owned development financier Invest International in the presence of Raed Abu Saud, the Minister of Water and Irrigation, and SouadFarsi, Representative of the European Investment Bank (EIB) in Jordan, which will manage the agreement. "Making additional, non-groundwater available through desalination is crucial for water security in Jordan," Verweij said in a Ministry of Planning statement. "The Netherlands is a global leader in water management and technology, and a reliable partner to Jordan, demonstrated through projects such as the Aqaba-Amman Water Desalination and Conveyor Project. This transformative initiative will ensure a sustainable water supply for the future, including for vulnerable communities, while also supporting Jordan's economic growth. The Netherlands remains fully committed to this partnership." EIB Vice President Gelsomina Vigliotti said, 'This significant contribution from The Netherlands underscores our shared commitment to ensuring access to safe and sustainable water resources. The Water Sector Fund plays a crucial role in mobilizing finance for essential projects, and this new funding will allow us to expand our impact in Jordan.' 'We are proud to partner with the EIB to support the Aqaba-Amman Water Desalination and Conveyance project through the Water Sector Fund. This investment is vital for enhancing water security in Jordan and addressing water challenges, which have been exacerbated by regional conflicts and climate change. The investment demonstrates our commitment to addressing global challenges through innovation and collaboration,' Petra Vernooij, Director Public Infrastructure of Invest International, said. Abu Saud said that the project is progressing according to established plans, demonstrating the government's commitment to implementing the Royal directives and achieving the Economic Modernisation Vision, along with the strategic plan for the water sector, the statement said. He said that the project will provide sustainable solutions to address part of the water shortage by desalinating 300 million cubic meters while addressing the impacts of climate change and meeting the needs of approximately 4 million citizens. 'This project is one of the most extensive desalination and infrastructure projects in Jordan, as it will limit groundwater and surface water degradation by natural replenishment and increase water supplies.' Toukan commended the Dutch government and Invest International's support for this critical project, which is part of the Team Europe initiative on Green Economy. 'This project will provide an important source of water, and contribute to enhancing economic development in Jordan,' she concluded. The Aqaba-Amman Water Desalination and Conveyance Project, also known as the National Carrier Project, will desalinate water from the Red Sea starting from the Gulf of Aqaba, ensuring drinking water supply to Amman and Aqaba while serving other governorates along the pipeline route, including Maan, Tafileh, Karak, and Madaba.
