Ammon News - The World Bank confirmed that it is currently studying a request from the Jordanian government to extend the Jordan Industrial Development Fund (JIDF) project for 18 months, from June 30 to December 31, 2026, as part of the government's efforts to boost investments and exports in the manufacturing sector and enhance the role of the fund as a key tool for achieving economic development.

The project aims to boost investments and exports by supporting companies operating in the manufacturing sector through several programs, including the Industrial Modernization Program, implemented in cooperation with the Jordan Enterprise Development Corporation, according to the bank's data, explaining that the program provides grants to manufacturing companies to modernize their production processes, contributing to improving product quality, increasing exports, and expanding into new and existing markets, in addition to reducing resource consumption and reducing harmful emissions.

Significant progress

The project has made significant progress since its launch, the first round of beneficiary selection was successfully concluded, with 387 companies supported across the four programs. $32 million of the $85 million allocated to the project has been disbursed, representing an implementation rate of 37.8%.

Preliminary indicators have shown positive impacts, including increased exports, new job creation, and improved resource efficiency.

Due to the strong demand for support, reflected in 1,442 applications, a second round of funding was launched to ensure continued momentum and expand support to additional companies.