Khaberni - The World Bank confirmed that the second phase of the Jordanian Fund for Entrepreneurship project is "progressing satisfactorily" in achieving its developmental goal of supporting startups and innovative small and medium-sized enterprises.
According to an evaluation report issued by the bank, which was translated by "Al Mamlaka", the project has spent $5.13 million out of the total funding of $50 million, which corresponds to 10.26%, leaving $44.88 million remaining, with the project set to continue until July 31, 2030.
The Jordanian Fund for Entrepreneurship entered its actual implementation stage in October 2025, with progress being made according to the approved plan, after completing all the accessibility conditions for the project.
The report explained that all the requirements for the project to become operational were fully met, including the completion of the project operations manual, alongside updating the institutional governance framework, and completing the necessary institutional, financial, and operational arrangements to support the project’s implementation.
Following the project's entry into effect, the initial funding disbursements were made, and the implementing entity began carrying out the project activities, while the investment committee began reviewing early-stage investment proposals within the joint investment fund windows, in line with the project's design and investment strategy.
The project aims to mobilize private capital for equity investment in the early stages, and support job creation through startups and innovative small and medium-sized enterprises, as well as stimulate private investment in high-growth startups in key sectors such as information and communications technology, fintech, health tech, and green tech.
According to the performance indicators adopted in the report, by 2030 the project aims to mobilize $150 million of private capital, support 100 startups, and create 1,500 direct job opportunities.
The indicators also aim for women-owned or managed companies, or those relying on a female-majority workforce, to represent 30% of the total beneficiary companies, and for companies led or staffed by youth to represent 40% of the total beneficiaries, in addition to allocating 10% of investments to green tech projects.
The approved funding for the project, amounting to $50 million, is distributed over three main components including $42 million for investment through investment funds, $3 million for joint investment, and $5 million for project management and capacity building.
In its first phase, the project attracted more than $240 million of private capital and provided more than 2,290 job opportunities, relying also on the expertise of the International Finance Corporation in due diligence procedures and joint investment in startups and regional venture capital funds.
The World Bank financed the first phase of the Jordanian Fund for Entrepreneurship to support innovative startups and small and medium-sized enterprises with $50 million, in partnership with the Central Bank of Jordan.
