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
Ali H. Abukumail
Senior Private Sector Specialist
John Gabriel Goddard
Hashemite Kingdom of Jordan
Head of World Bank Directorate/MOPIC
Ministry of Industry and Trade and Supply
Secretary General of the Ministry of Industry, Trade, and Su
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