World Bank President confident in Jordan’s economy
World Bank President James D. Wolfensohn concluded a three-day visit to Jordan on Thursday. He was impressed with the emphasis put by King Abdullah on education for the knowledge economy and on deepening Jordan’s long standing efforts to invest in educating its people and developing its human resources.
During his visit, the World Bank President was received by King Abdullah II and Queen Rania. He held extensive discussions on the economic and social situation with the Prime Minister, Ali Abu Al Ragheb and with Cabinet Ministers in charge of World Bank financed activities. Wolfensohn also met with a large representation of civil society organizations and with the private sector.
The visit provided an occasion to reaffirm the shared goals of poverty reduction and social inclusion. The strategy to achieve these goals rest on four main priorities that guide the long term partnership between Jordan and the World Bank: job creation through continuing public sector reform and enhancing private investment; education for the knowledge economy; more efficient natural resource management, particularly for water; and improvement in social conditions and safety nets.
The World Bank current portfolio in Jordan consists of six operations for a total amount of $192 million. New operations are under preparation and the World Bank intends to invest between $300 and $400 million in Jordan over the next three years.
The International Finance Corporation (IFC), the World Bank Group private sector arm, currently holds a portfolio of $113 million in 17 companies. Since the beginning of its partnership with Jordan, the World Bank has invested over two billion dollars in the social and economic development of the country, and the IFC $283 million in 25 companies. — (menareport.com)
© 2003 Mena Report (www.menareport.com)