Khaberni - The implementation of the "Industrial Development Fund Support" project in Jordan has been "satisfactory" since its launch, with approximately $47.1 million disbursed by the end of 2025, which is equivalent to 55.4% of the total loan amount of $85 million, in the midst of strong demand for matching grants and incentive-based support that are essential components of the project.
According to a paper issued by the World Bank translated by "Al-Mamlaka", the project, approved on May 12, 2022, aims to boost investments and exports for benefitting companies in the manufacturing sector, in addition to operating and activating the Industrial Development Fund in Jordan.
The document, being implemented by the Ministry of Industry, Trade, and Supply, clarified that the project's developmental goal is still achievable, given the ongoing demand for main support programs, especially matching grants and incentives, within the core components of the project. The overall implementation performance of the project has been rated as satisfactory.
A restructuring paper indicated that during the project implementation, a supply chain financing platform that was included in the original design of the project was cancelled, leading to no need to use the funds allocated for this activity. It is planned to reallocate the $0.5 million designated for the platform to another category that includes goods, consulting services, training, and operation costs, according to the loan agreement provisions.
The World Bank confirmed that the proposed restructuring does not involve any changes in the developmental goal of the project, its components, result framework, implementation arrangements, or its classification in terms of guarantees, nor does it include any adjustment to the project's closing date set for December 31, 2026.
According to a prior evaluation report by the bank, the increase in exports of the companies benefiting from the project until the end of last May was about 32%, compared to a final target of only 5%, which is considered an "exceptional achievement".
The project is one of the government’s tools to stimulate sustainable industrial growth, executed by the Ministry of Industry, Trade, and Supply, in technical cooperation with the Jordan Enterprise Development Corporation (JEDCO), Jordan Exports, and the Jordan Loan Guarantee Corporation (JLGC).
The government established the Industrial Development and Support Fund in accordance with the provisions of the economic priority work program of the government for the years (2021-2023), where the fund’s regulation number (45) for the year 2022 was issued under the provisions of Article 114 of the Jordanian Constitution and its 1952 amendments.
