Jordan Second Equitable Growth & Job Creation Programmatic Development Policy Financing

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The development objective of the Second Equitable Growth and Job Creation Programmatic Development Policy Financing (DPF2) for Jordan is to support Jordan to set foundations to: (i) reduce business costs and improve market accessibility, (ii) create more flexible and integrated labor markets and provide better and more efficient social assistance, and (iii) improve fiscal sustainability and take more informed decisions regarding risk. DPF2 will help the government pursue its necessary macro critical reforms to lay the foundations for investment at a time of low economic growth, while supporting fiscal sustainability and containing new losses in the energy sector. To improve the quality of economic growth and to produce more and better jobs for Jordanians, Jordan needs to promote investment, to allow its internal markets to become more contestable, and to facilitate the access of the existing pool of highly skilled women to the labor force. The DPF contributes to the implementation of the enlarged World Bank Group (WBG) Middle East and North Africa (MENA) strategy, as it addresses the constraints identified in the systematic country diagnostic and the priorities of the country partnership framework. The operation supports economic growth and job creation. It focuses on reducing business costs and increasing opportunities for private domestic and foreign investment, particularly in services (including digital), reducing labor market segmentation, removing legal and regulatory barriers for women to participate in the labor force, strengthening social protection at the time of economic transformation, and maintaining fiscal sustainability.