• Implementation Support Agency (ISA): European Investment Bank
  • Total project financing: $186.3 million
  • Funding from GCFF: $30 million
  • GCFF Financing Approval Date: 10/01/2021
  • Project Closing Date: 12/31/2032
  • % Disbursed: 0%
  • Status: Under implementation
Jordan COVID-19 Private Sector Resilience and Recovery Project

About the project

The shock of COVID-19 exacerbated the pre-existing issues in the MENA region. The region continues to suffer from challenges related to longstanding security strains and the effects of large-scale refugee population movements, as well as large structural impediments to growth. Real GDP for Jordan contracted by 2.2 percent in Q3-2020 year-on-year. The combination of technical capacity, private sector knowledge, targeted financing instruments places the WBG in a strong position to propose solutions adapted to challenges Jordan faces today. The solutions under the proposed project will aim to alleviate the impact of the pandemic on MSMEs, addressing the key challenges they face by building on the three key pillars: (a) increased access to finance; (b) development of SMEs’ capability and realizing specific market opportunities; and (c) strengthening of SME development and export promotion institutions. The proposed project aims to alleviate the impact of the pandemic on MSMEs and address key challenges they face in the ecosystem.

Project Development Objective (PDO)

Support MSMEs’24 in adapting to the immediate impacts of COVID-19 and improve access to finance and business support services for new and existing MSMEs.