News dalla rete ITA

10 Giugno 2019

Giordania

WORLD BANK APPROVES $1.45B FINANCING PACKAGE TO KINGDOM

The World Bank Group’s Board of Executive Directors has approved a $1.45 billion financing package to Jordan, aimed at stimulating inclusive growth and creating jobs. The Second Equitable Growth and Job Creation Development Policy Loan (DPL2) contributes through “far-reaching and progressive reforms to launching Jordan as a country Open for Business”.The new package is designed to disburse in two equal tranches to support the government’s new economic plan for growth and to allow adequate time for completion of necessary additional reforms that are central to the achievement of the programme’s overall results. Jordan is expected to receive a sum of $950 million from the loan’s total this month.The terms of the loan are concessional, and the maturity of the loan is for 34 years. A crucial element of DPL2 is to energize private sector growth by supporting reforms that promote foreign direct investments and exports in service sectors that are advantageous for Jordanians; streamline licensing and inspections to ease doing businesses, particularly for small businesses; improve credit infrastructure (through insolvency and secured transactions laws); and develop new regulations for public procurement to reduce fiscal costs and boost transparency. This comprises promoting broadband services to harness the potential of the digital economy for Jordan’s youth and developing new legislation for public, private partnerships to institutionalize investment. It also includes addressing Jordan’s energy costs through a Roadmap for Financial Sustainability of the Energy Sector, a structural transformation that deals with the sector’s financial and operational viability and long-term regulatory environment.The programme supports further improvements in the business environment and a simpler, less bureaucratic and more user-friendly investor journey. It will also promote the update of the legal framework for public procurement and the extension of the national broadband fiber access network. In addition, the DPL2 will allow the government to continue to expand and improve the targeting of social safety nets for the poor and vulnerable.The DPL2 brings the World Bank Group’s total commitments to Jordan to $2.78 billion, of which $228.2 million are financed by the Global Concessional Financing Facility (GCFF). Launched in 2016, the GCFF provides concessional financing to middle income countries hosting large numbers of refugees at rates usually reserved for the poorest countries. (ICE AMMAN)


Fonte notizia: jordan times