World Bank Approves $125m to Support Agriculture in Jordan

Published on: 04 October 2022
by KnowESG

A Jordanian project that aims to boost agricultural development and value chains by increasing the country's resilience to climate change and sustainability will receive $125 million from the World Bank as part of a financing agreement.

The project's total value, funded by the government and trust funds, could reach $762 million; it is based on Jordan's National Plan for Sustainable Agriculture (2022-2025).

The project will address problems faced by Jordan's agricultural sector through public-private partnerships to increase the resilience of the agricultural production system impacted by climate change and guide the sector toward a more sustainable growth path.

It will help improve the agri-food sector's competitiveness by improving the agribusiness environment and making the sector more appealing for investment.

The World Bank said that Jordan's agricultural sector is a major source of income, employment, and exports and has a lot of untapped potential.

The bank added that climate change “severely affects” agriculture in Jordan due to rising temperatures and declining rainfall and warned of a recurrence of drought, which will lead to increased demand for irrigation by water-dependent crops.

Source: Jordan News

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