Jordan Partners with Arab Fund in $690M Country Strategy
Deal News | Apr 10, 2025 | Zawya
The Arab Fund for Economic and Social Development has entered into a joint declaration with the Hashemite Kingdom of Jordan to initiate a Country Partnership Strategy (CPS) running from 2025 to 2029. Underlined by a financing package worth approximately $690 million, this strategic plan aims to bolster Jordan's economic resilience and foster inclusive growth. The initiative focuses on enhancing social services, such as water supply and renewable energy, while catalyzing private sector growth through investments in high-value industries and support for SMEs and startups. This partnership will drive progress across critical sectors, promoting alignment with Jordan's Economic Modernization Vision 2033, and addressing six key Sustainable Development Goals. The Arab Fund continues its longstanding support for Jordan, having provided $2.67 billion in funding since 1974.
Sectors
- Economic Development
- Energy
- Education
- Private Sector Development
Geography
- Jordan – Jordan is the primary beneficiary of the Arab Fund's Country Partnership Strategy, receiving significant financial and strategic investment.
- Kuwait – Kuwait served as the location for the signing of the Joint Declaration and the host for the annual meetings where this strategic partnership was announced.
Industry
- Economic Development – The article centers around a strategic economic partnership which aims at enhancing economic resilience and promoting inclusive growth in Jordan, key aspects of economic development.
- Energy – The plan includes improvements in renewable energy production and infrastructure, highlighting energy as a significant focus area.
- Education – The strategy emphasizes TVET education and enhancing digital skills, indicating a strong focus on the educational sector.
- Private Sector Development – Focus on unlocking potential in high-value industries, SMEs, and startups aligns with private sector development goals.
Financials
- $690.2 million – The total financing package committed by the Arab Fund to support Jordan's Country Partnership Strategy from 2025 to 2029.
- $2.67 billion – Total funding provided by the Arab Fund to Jordan since 1974, illustrating longstanding financial support.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Arab Fund for Economic and Social Development | Bidding Company | Company | An international development finance institution supporting economic and social development projects in Arab countries. |
| Hashemite Kingdom of Jordan | Target | Government | A nation in the Middle East that is the beneficiary of the Arab Fund's Country Partnership Strategy aimed at economic and developmental growth. |
| H.E. Zeina Toukan | Official Representative | Person | Minister of Planning and International Cooperation for Jordan, representing the country in the signing of the partnership agreement. |
| Badr Al-Saad | Company Executive | Person | Director General and Chairman of the Board of the Arab Fund for Economic and Social Development, promoting the strategic partnership. |
| H.E. Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah | Government Host | Person | Prime Minister of Kuwait, under whose auspices the meeting and signing of the Joint Declaration took place. |