The Cabinet, in its meeting today, Wednesday, chaired by Prime Minister Dr. Jaafar Hassan, decided to approve the issuance of the joint declaration to launch the strategic partnership between the Kingdom of Jordan and the Arab Fund for Economic and Social Development for the years 2025-2029.
This decision comes within the framework of the efforts made by both the Kingdom and the Arab Fund for Economic and Social Development to establish a strategic partnership, which resulted in agreeing on a strategic document between the government and the fund to finance a number of proposed developmental projects that align with the vision of economic modernization and include the private sector.
This agreement is the first of its kind to include the possibility of financing the private sector, with Jordan being the first country where the fund will begin implementing the partnership agreement. The agreement will later be implemented with other Arab countries.
The objective of this partnership is to support many priority developmental areas in Jordan, such as water, improving access to social services, enhancing growth in the private sector, investing in value-added sectors, fostering public-private partnerships, supporting exports, the digital economy, startups, and more.
Through this document, the Cabinet will review the financing agreements for each project separately, following the established procedures.
It is worth noting that the developmental relationship between the Kingdom and the Arab Fund for Economic and Social Development has extended for more than fifty years since the establishment of the fund in 1974. This collaboration has included various economic and social sectors such as electricity, energy, agriculture, rural development, social services, transportation, water, industry, and mining.
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The Cabinet, in its meeting today, Wednesday, chaired by Prime Minister Dr. Jaafar Hassan, decided to approve the issuance of the joint declaration to launch the strategic partnership between the Kingdom of Jordan and the Arab Fund for Economic and Social Development for the years 2025-2029.
This decision comes within the framework of the efforts made by both the Kingdom and the Arab Fund for Economic and Social Development to establish a strategic partnership, which resulted in agreeing on a strategic document between the government and the fund to finance a number of proposed developmental projects that align with the vision of economic modernization and include the private sector.
This agreement is the first of its kind to include the possibility of financing the private sector, with Jordan being the first country where the fund will begin implementing the partnership agreement. The agreement will later be implemented with other Arab countries.
The objective of this partnership is to support many priority developmental areas in Jordan, such as water, improving access to social services, enhancing growth in the private sector, investing in value-added sectors, fostering public-private partnerships, supporting exports, the digital economy, startups, and more.
Through this document, the Cabinet will review the financing agreements for each project separately, following the established procedures.
It is worth noting that the developmental relationship between the Kingdom and the Arab Fund for Economic and Social Development has extended for more than fifty years since the establishment of the fund in 1974. This collaboration has included various economic and social sectors such as electricity, energy, agriculture, rural development, social services, transportation, water, industry, and mining.
