Jordan: Support for Industry Development Fund (WB-P178215)

Countries
  • Jordan
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
May 12, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Jordan
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 85.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 111.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ WB website

Updated in EWS Jun 15, 2022

Disclosed by Bank Oct 27, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank documents, the project objective is to promote investment and exports by project beneficiary firms in manufacturing sector and to operationalize the Industry Development Fund.

As part of the Government Priorities Program for 2021-2023, the Government is establishing the "Industry Development Fund” to finance the modernization and development of manufacturing firms. The project will support the implementation of the Fund’s main programs, as well as the development of the Fund’s operational capacity to enable it to become an effective vehicle for the implementation of GOJ’s industry development programs beyond the project lifetime.

The main activities financed by the project under the Industry Development Fund will include: (i) Industry upgrading and export development (programs providing matching grants to manufacturing firms to modernize their operations leading to improved product quality and modernized production processes, increased exports through access to new markets and expanding in existing ones, as well as reduction in resource consumption and in waste or emissions; (ii) outcome-based incentives program providing incentives to firms that achieve targets in areas critical to achieve the sector’s full potential (e.g. higher female employment; introduction of new exportable products; energy/water efficiency; emi

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

World Bank:
Ali H. Abukumail
Senior Private Sector Specialist

John Gabriel Goddard
Lead Economist

Borrower:
Hashemite Kingdom of Jordan
Maher Abdelrahim
Head of World Bank Directorate/MOPIC
maher.abdelrahim@mop.gov.jo 

Implementing Agency:
Ministry of Industry and Trade and Supply
Dana Al-Zoubi
Secretary General of the Ministry of Industry, Trade, and Su
Dana.Al-Zoubi@MIT.GOV.JO 

ACCESS TO INFORMATION

To submit an information request for project information, you will have to create an account to access the Access to Information request form. You can learn more about this process at: https://www.worldbank.org/en/access-to-information/request-submission 

ACCOUNTABILITY MECHANISM OF THE WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. Information on how to file a complaint and a complaint request form are available at: https://www.inspectionpanel.org/how-to-file-complaint 

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How it works