27/03/2022

27/3/2022

Minister of Planning and International Cooperation Nasser Shraideh and UK Minister for the Middle East and Asia Amanda Milling co-chaired on Thursday the fourth Jordan Taskforce meeting to follow up on outcomes of the 2019 London Initiative. The meeting was also attended by Minister of Finance Dr. Mohammad Al-Ississ, British Ambassador to Jordan Bridget Brind, and several ambassadors and senior representatives of donor countries and relevant international finance institutions.

The meeting covered two interactive sessions, the first focused on policy reforms to promote economic recovery, growth, and job creation, and the other addressed the energy and water sectors as two essential sectors to make the Jordanian economic climate more resilient in light of the challenges.

This meeting is part of ongoing efforts to mobilize support from the international community towards Jordan's economic reform agenda. Minister Shraideh expressed the Government's appreciation to the donor's community for the ongoing support that is provided to the Jordan Growth Multi-Donor Trust Fund, which has been instrumental in providing needed technical and operational support to various line ministries and government institutions. Recently, Norway and Germany have contributed to the Fund that is currently being funded by the UK, Canada, and the Netherlands. He also acknowledged the US Agency for International Development and other partners for supporting the government in implementing Jordan’s Reform Matrix.

Minister Shraideh gave a presentation on challenges, as well as the opportunities that Jordan is currently facing, and called on the international community to strengthen partnerships to support Jordan in meeting its ambitions for greener and more inclusive growth. He spoke about the importance of continuing support to most affected communities and sectors from the pandemic, protecting jobs and the private sector, in addition to ensuring that the refugee community is not left behind.

“We are achieving economic and structural reforms through the Reform Matrix and Jordan’s IMF program, beyond that we continue to need the support to transform Jordan into the digital and green economy, stimulate public sector investments and keep an eye on the vulnerable population who need different types of support and continue that work to create more jobs and achieve economic growth.” Minister Shraideh stated.

Speaking at the meeting, UK Minister for the Middle East and Asia Amanda Milling said, “Jordan has demonstrated its commitment to delivering urgent and impactful reforms, including by announcing critical reforms in the energy sector.” Also, she added “It is important to maintain momentum on the steps necessary to deliver inclusive and sustainable growth and jobs for Jordanians and for Jordan’s friends continue to support it in doing so. And I am proud that the UK is at the heart of international support for these reforms.”

“We will continue to help Jordan deliver the ambitious commitments made at CoP26, to increase its economic stability and to continue to grow and thrive.” Milling stated.

Minister Al Ississ in turn gave an update on the macroeconomic and fiscal framework, highlighting recent fiscal reforms and their impacts on macro-fiscal indicators, including the progress achieved within the current framework arrangement with the IMF.

He also added, “despite a challenging political economy backdrop, the GOJ has implemented a series of significant structural reforms that aim to improve private sector experience, lower costs of consumer goods through lowering customs tariffs, and improve transparency”.

The meeting also covered important interventions by international community representatives expressing their support to the government’s efforts and highlighted the important role that the Reform Matrix has in transforming Jordan’s economy. Also, attendees recognized Jordan’s progress in implementing economic reforms and galvanized support for further reforms which will strengthen Jordan’s stability and prosperity. Furthermore, participants discussed how best to support Jordan to deliver inclusive and sustainable economic growth to deliver its priorities.

It is worth mentioning that The Jordan Task Force was first launched as a result of the London Initiative in February 2019, during which Jordan’s Reform Matrix (2018-2024) was also introduced, including a set of structural reforms that aim at boosting inclusive growth and create jobs. Since then, the Jordan Taskforce meets regularly to review progress on three fronts including growth and reform, debt stabilization, and investment. It is also tasked with following up on the support provided by the international community to finance Jordan’s reform agenda.