Jordan Recovery Under Global Uncertainty Development Policy Loan

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The Recovery under Global Uncertainty Development Policy Loan (DPL) Program supports the Government's efforts to address economic and social consequences of the current global financial crisis and economic slowdown while improving resilience of the Jordanian economy to adverse shocks. Specifically, it supports policy measures which: (i) reduce fiscal vulnerability by broadening the tax base and enhancing effectiveness of government expenditures; (ii) strengthen the financial sector by further enhancing regulation and supervision and improving access to finance; (iii) improve the business climate to encourage more private sector investment; and (iv) facilitate access of vulnerable groups to a more effective and fiscally sustainable social protection system. The Government has requested the Bank to prepare the DPL as part of its rapid response actions aimed at supporting the real sector of the economy, including by diversifying its financing instruments (which over the recent years relied mostly on domestic market), while consolidating the long standing cooperation with the World Bank in advancing the key structural reforms that has been at the core of implementation of the Country Assistance Strategy (CAS).