Jordan

                      Second Equitable Growth and Job Creation Programmatic
                                     Development Policy Loan

                                            Chair Summary*


         Executive Directors approved a loan for the Hashemite Kingdom of Jordan for the Second
Equitable Growth and Job Creation Programmatic Development Policy Loan in the amount of US$1.45
billion on the terms and conditions set out in the President’s Memorandum.

        Directors highlighted the progress Jordan has made in its economic reforms through the first Policy
Operation but recognized the challenges of fiscal sustainability; impact of external shocks; constraints of
the labor, energy and transport markets; and limited space and conditions for private sector development.



        Directors appreciated the important role Jordan plays in anchoring the stability in the region, and
hosting the Syrian population displaced by conflict.


        Directors noted Jordan’s high level of debt and considerable risks to the economy and welcomed
the commitment by the Government to economic reform. They noted the pledge of support by the IMF and
other development actors, and the Bank’s own commitment reflected in the large operation.

         In that regard, they supported the critical reforms to expand the economy’s outward orientation and
address internal efficiencies, with particular focus on inclusive private sector-led growth, climate and
social issues to address the human development agenda. They strongly supported the implementation of
the energy reform together with the tariff reviews, as well as the reforms to promote inclusive labor
practices through removal of regulatory barriers to women’s participation.

        Finally, Directors looked forward to the broader World Bank Group program to help address
external shocks and protect the poor and vulnerable under the reform program.




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*This Summary is not an approved record.