The World Bank (WB) has endorsed a loan of $120 million to Jordan to support its efforts to reform the governmental sector, reported the official Saudi Press Agency (SPA) on Saturday.
Jordanian Ambassador to Washington Marwan Al Muasher said the loan would help improve the quality of public services provided to Jordanian citizens.
The loan will also promote the volume of investment in the private sector, he said.
In January this year, the private investment arm of the WB, the International Finance Corporation (IFC), announced its decision to invest $15 million in loans and equity that will help make Jordan the center of worldwide luggage manufacturing operations.
The transaction will create thousands of jobs and give a major boost to Jordan’s export industries, an online press release at that time said – Albawaba.com
