Amman, Jordan, November 25, 2020—Supporting refugees and host communities in Jordan by harnessing the power of the private sector to create jobs and spur economic growth is the focus of an innovative partnership implemented in Jordan.
The Prospects Partnership initiative brings together IFC, the government of the Netherlands, the International Labour Organization (ILO), the United Nations Refugee Agency (UNHCR), UNICEF, and the World Bank to improve the quality of life for these communities.
The Partnership aims to provide conditions for refugees and host communities to access quality primary education and vocational training, help secure and retain jobs and strengthen the country's social protection framework. IFC will focus on helping expand access to finance and support entrepreneurship through a range of upstream, investment and advisory services support.
"The Prospects partnership is aimed at effective collaboration, sharing data, and leveraging expertise," said Sigrid Kaag, Minister for Foreign Trade and Development Cooperation of the Netherlands. "Through close cooperation with the Jordanian government, Prospects partners are contributing to the development and self-resilience of people and communities."
Beatrice Maser, IFC's regional director for the Middle East and North Africa, said, "Forced displacement remains a major issue in the region. We hope the partnership will help stimulate private sector interventions to offer long-term solutions to the challenges facing host and refugee communities."
Through the partnership, IFC will continue its collaboration with the government of Jordan to boost private sector engagement, including through supporting regulatory improvements.
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.
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