📋 Tender Overview
SUMMARY
STATUS
Approved
MEMBER
Jordan
SECTOR
CRF-Economic Resilience/PBF
E&S CATEGORY
Category B
PROJECT NUMBER
000482
FINANCING
APPROVED FUNDING
USD250 million
FINANCING TYPE
Sovereign
TIMELINE
CONCEPT REVIEW
June 2021
FINANCING APPROVAL
August 26, 2021
LATEST FIELD VISIT
January 2024
OBJECTIVE
The objective of the Program is to improve accountability to foster climate responsive investments and growth during and after the COVID-19 pandemic. The Program will help Jordan capitalize on emerging opportunities for post-pandemic recovery particularly on green growth, private sector investment, and female labor participation.
DESCRIPTION
This Program supports the implementation of key elements of the 5-Year Reform Matrix and the corresponding indicative expenditure framework that strengthen the investment environment (including for tourism), make it climate responsive, and able to capitalize on emerging opportunities and untapped potential (including being better gender-informed). Implementation rests on the introduction of new or streamlined processes, clear roles and responsibilities, and on stronger feedback loops that support an enhanced accountability framework. The proposed Program consists of the following Result Areas (RAs):
RA1: Improving the accountability and fiscal space for public investment, including towards national climate goals.
RA2: Improving business enabling environment and the capacity of key institutions to attract private investment and climate finance, including for tourism sector.
RA3: Generating evidence and data for policy making, implementation and stakeholder dialogue.
In particular, the Program supports:
implementing public investment management (PIM) and public-private partnership (PPP) reforms by: (1) supporting prioritization, appraisal, public consultation, and information disclosure in PIM (including PPP projects), (2) improving implementation, including the execution rate of capital projects, (3) introducing post-completion reviews, and (4) broadening the fiscal space for public investment;
improving the private investment environment and improving opportunities for private sector to support a climate responsive recovery and readiness to access external climate finance in transport, energy, water, and tourism, which will enhance Jordan’s ability to attract climate investment to achieve its Paris Agreement goals;
strengthening the role of the Jordan Investment Commission as a promotion agency to attract and retain investments, and implementing the Investor Journey program to support domestic investments by reducing the regulatory burden (including removal of licenses and digitalization of business registration);
leveraging the full potential of the tourism sector to drive the Jordanian economy to a higher level of competitiveness and generate strong public and private investment flows; and
introducing systematic use of impact assessments for new and existing legislation, im
