Day: April 8, 2024

Amman: The World Bank Group (WBG) and the Ministry of Planning and International Cooperation have officially launched the new Jordan Country Partnership Framework (CPF) for the years 2024-2029.

This framework is aimed at promoting inclusive and green growth in the nation and facilitating job creation, with a keen focus on youth and women. This initiative marks the latest development in the long-standing partnership between Jordan and the WBG.

Despite facing various challenges, including a moderate growth rate of 2.2% over the past decade, an unemployment rate of 21.3%, and a female labor force participation rate around 15%, Jordan has demonstrated considerable resilience.

The country has made significant contributions to the international community, notably through its efforts in hosting Syrian refugees, leading on climate action, and fostering regional peace and prosperity.

The CPF is designed to capitalize on Jordan’s human capital, especially focusing on youth and women, and integrating climate action
into its development model.

According to Jean-Christophe Carret, World Bank Country Director for the Middle East Department, the CPF will support the successful implementation of Jordan’s economic and public sector modernization reforms. This, in turn, is expected to enhance the country’s resilience to future shocks.

The framework sets forth three High-Level Objectives: stimulating private sector jobs through investment-enabling reforms and sector-specific initiatives; enhancing human capital outcomes by targeting education, healthcare, and social protection reforms; and increasing resilience and sustainability in critical sectors like water, energy, and urban development.

Additionally, the CPF emphasizes the importance of governance, digitalization, and support for Jordan’s role as a host for refugees.

A distinctive feature of this new CPF is its collaborative nature, leveraging the collective strengths of the WBG’s constituent organizations the International Bank for Reconstruction and Development (IBRD
), International Finance Corporation (IFC), and Multilateral Investment Guarantee Agency (MIGA) alongside partnerships with bilateral and multilateral entities. This approach aims to mobilize private, green, and concessional finance in support of Jordan’s development objectives.

Throughout the development of the CPF, the World Bank Group engaged in extensive consultations with a broad array of stakeholders across Jordan, reflecting a comprehensive effort to align the framework with national priorities and development goals.

As part of this process, two new anchor operations have been approved, totaling US$576 million, to support the early stages of CPF implementation.

These operations focus on enhancing public service delivery, advancing digital transformation, and removing barriers to women’s economic participation.

The CPF builds on the WBG’s significant active portfolio in Jordan, which has seen substantial growth over the past decade.

Specifically, the IBRD’s current portfolio includes 18 projects va
lued at US$4.1 billion. The IFC’s investment program in Jordan has doubled since 2010, reaching a committed exposure of US$538 million. Moreover, MIGA’s exposure in Jordan ranks as the third largest in the MENA region, totaling US$545.8 million.

This robust portfolio underlines the WBG’s commitment to supporting Jordan’s modernization agenda, enhancing human capital, and fostering private sector-led growth for inclusive and sustainable development.

Source:Jordan News Agency

Amman: Gold prices reached historic highs in the local market on Monday, paralleling the global surge in the precious metal to $2,357 per ounce.

As reported by the General Union of Jewelry Trade and Gold Shop Owners, 21-karat gold emerged as the preferred choice among citizens, commanding a selling price of JD47 from goldsmiths’ shops, while being purchased at JD45.

In terms of one gram prices, 24-karat gold was sold at JD54, while 18-karat gold was priced at JD42 for purchase from goldsmiths’ stores.

The precious metal commenced its weekly global trading by shattering previous records and continued its upward trajectory, buoyed by anticipation surrounding potential interest rate cuts and increased gold purchases by international central banks.

Source:Jordan News Agency

Manama, In implementation of the order of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to inaugurate, restore and rehabilitate 32 mosques under the Sunni and Jaafari Endowments in all governorates of Bahrain, Shaikh Dr Rashid bin Mohammed bin Fetais Al Hajeri, the Chairman of the Sunni Endowments Board, announced the completion of maintenance work in three mosques in Riffa and Isa Town.

The mosques are Abu Al Fateh Jamea (congregational mosque) in North Riffa, Fatima Jamea in Isa Town, and Ahmed Shaikhan Al Farsi Mosque in Al Hunainiya, East Riffa.

The chairman lauded the support and care for places of worship, under the leadership of His Majesty King Hamad bin Isa Al Khalifa and the follow-up of His Royal Highness the Crown Prince and Prime Minister.

He also commended the efforts of the entities involved in the completion of projects of worship places according to the plan set for the holy month of Ramadhan.

Source:Bahrain News Agency

Amman: The Audit Bureau has launched its strategic blueprint for the years 2024 to 2027, laying out a forward-looking agenda aimed at enhancing its audit and oversight functions.

This plan, revealed by the Bureau’s head, Dr. Radhi Al-Hamadeen, aligns with His Majesty King Abdullah II’s broader reform initiatives targeting political, economic, and administrative sectors. It marks a concerted effort to elevate the Bureau’s role and effectiveness in supervising government institutions.

The strategy, articulated amidst significant national milestones the silver jubilee of King Abdullah II’s reign and the Bureau’s 72nd anniversary aims to introduce a qualitative shift in its operational ethos.

Al-Hamadeen highlighted the plan’s role as a comprehensive guide for the Bureau’s activities over the next four years, emphasizing its foundation in international best practices and its ambition to match the evolving standards of global oversight bodies.

Al-Hamadeen explained that the strategy unfolds across nineteen axe
s and five strategic objectives, ranging from enhancing the Bureau’s professional capabilities to improving state resource management, integrity, transparency, and internal control systems.

A significant focus is placed on strengthening accountability and public transparency across approximately 300 government entities under its oversight.

This plan, developed through extensive consultation and analysis, including a SWOT analysis of the Bureau’s internal and external environment, reflects a participative approach to governance, according to Al-Hamadeen.

It envisions the Bureau not just as a watchdog but as a facilitator of improved governance practices, aiming to boost public confidence and ensure more efficient use of resources.

Al-Hamadeen pointed out that the strategic objectives were meticulously crafted following an extensive evaluation of the Bureau’s previous strategic outcomes, leveraging tools such as the balanced scorecard to ensure a nuanced and targeted approach to goal setting and performance
measurement.

Furthermore, he noted that the plan’s emphasis on collaboration and partnership with government entities underscores a shift towards a more inclusive and participatory approach to governance.

By simulating real-world challenges and fostering a cooperative relationship with supervised entities, the Bureau aims to enhance its effectiveness and contribute to the broader goals of good governance, transparency, and accountability.

The strategic plan is not just a roadmap for the Bureau’s activities; it is a declaration of its commitment to playing a pivotal role in Jordan’s development narrative, accordint to Al-Hamadeen.

By setting clear objectives, timelines, and evaluation mechanisms, Al-Hamadeen said the Bureau is poised to make a tangible impact on the quality of governance and the efficient use of public resources in Jordan, thereby supporting the nation’s journey towards sustainable development and prosperity.

Source:Jordan News Agency

Cairo: Egyptian President Abdel Fattah El-Sisi and Palestinian Prime Minister Muhammad Mustafa Monday, in Cairo, rejected the forced displacement of Palestinians and warned of escalation.

The official spokesperson for the Egyptian Presidency, Counselor Ahmed Fahmy, said, “The Egyptian and Palestinian sides affirmed that a just settlement of the Palestinian issue is the guarantor of restoring security and stability to the region.”

El-Sisi said Egypt would maintain its position in support of the Palestinian cause until the “just” Palestinian rights are guaranteed in an independent, sovereign state on the borders of June 4, 1967, with East Jerusalem as its capital.

Source:Jordan News Agency

Amman: The Royal Hashemite Documentation Center (RHDC) has entered into a cooperation agreement with KBW Investments, a Jordanian company, as part of the center’s strategy to collaborate with leading firms in the field of developing and implementing technical solutions both domestically and internationally, particularly in electronic archiving projects.

In a statement released on Monday, the RHDC outlined that the agreement aims to bolster its pivotal role and enhance electronic archiving standards, while also facilitating the implementation and advancement of future projects in this domain.

The agreement was formally signed by Riham al-Masri, Acting Director-General of the RHDC, and Mohamed Khirfan on behalf of KBW.

Source:Jordan News Agency

Amman: His Majesty King Abdullah II on Monday said at a meeting with figures from Palestinian refugee camps in Jordan that Jordanians are strong in their unity and dedication to the security and prosperity of their nation.

During the meeting, held at Madareb Bani Hashem at the Royal Hashemite Court, His Majesty said a strong and stable Jordan is best equipped to support its Arab brothers, especially the Palestinians.

According to a royal court statement, the King said Jordan is making intense diplomatic efforts to stop the injustice against Gazans, while also continuing to provide aid by land and air.

Jordan has stood against attempts to question its honest positions since the establishment of the state, yet the Kingdom has never abandones its values and its clear role, His Majesty said.

The King reaffirmed that Jordan will always stand for goodwill and honourable positions, in line with its deep-rooted principles.

His Majesty expressed pride in the efforts of Palestinian refugee camps in Jordan, and the
ir dedication to Jordan and its noble causes, adding, “we will always be one in service of Jordan and its future”.

For their part, the camp representatives reiterated their support for the King, commending Jordan’s honourable position towards Gazans.

They thanked His Majesty’s efforts in highlighting the Palestinian cause to the international community, stressing the importance of the Hashemite Custodianship of Islamic and Christian holy sites in Jerusalem.

Speakers also commended Jordan’s financial and political support for UNRWA, as well as implementing a number of Royal initiatives in various sectors in refugee camps, while congratulating His Majesty on the occasion of the Silver Jubilee.

Prime Minister Bisher Khasawneh, Royal Hashemite Court Chief Yousef Issawi, Director of the Office of His Majesty Jafar Hassan, Adviser to His Majesty for Tribal Affairs Kneiaan Bluwi, and Department of Palestinian Affairs Director Rafiq Khirfan attended the meeting.]

Source:Jordan News Agency