IFC Vice President Champions Inclusion, Announces Two Flagship Initiatives

Amman, Jordan, June 5, 2024— Hela Cheikhrouhou, IFC Regional Vice President for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan, launched two new initiatives which aim to promote inclusion in the workplace and help create the much-needed jobs across the region.

The first initiative is called Care Arabia. It is a regional World Bank Group initiative, led by IFC, and aims to increase female labor force participation by supporting the growth and sustainability of nurseries in the early childcare sector. It also aims to help companies provide safe childcare solutions in the workplace to support working parents and caregivers. This could potentially increase the participation of women in the workforce by up to 7.3 percent, contributing to economic growth and enhancing business productivity and competitiveness, according to a newly released World Bank report.

In Jordan, only 15 percent of women aged 15-64 participate in the labor market, compared to regional and global averages of 20 percent and 53 percent respectively.

The second initiative is called 1001Stars and is led by IFC. It will be bringing together 15 companies from seven countries across from the Middle East, Pakistan, and Afghanistan to support the creation of a sizable number of jobs and training opportunities. IFC is setting up dedicated financial incentives and advisory tools to help these companies maximize the integration of women, youth, and vulnerable groups, including people with disabilities and displaced communities in the workforce.

In addition to launching these two IFC initiatives during her two-day visit to Jordan this week, Cheikhrouhou will also meet with senior government and private sector representatives to highlight IFC's support to the country's private sector and raise awareness about the importance of increasing opportunities for the participation of women, youth and vulnerable groups in the job market.

"Inclusion means empowering women, elevating young bright minds, and embracing the vulnerable -- it also means giving them equal opportunities in the workplace," says Hela Cheikhrouhou, IFC Regional Vice President for the Middle East, Central Asia, Türkiye, Afghanistan, and Pakistan. "IFC aims to unleash the power of the private sector as a catalyst for job creation and we are excited to be launching flagship initiatives in partnership with pioneering companies to collectively achieve this objective."

Cheikhrouhou's mission also included a field trip to the Zaatari Refugee Camp, Jordan's largest refugee camp—home to 78,000 refugees—to explore opportunities for supporting displaced people and addressing their economic challenges. IFC has joined the PROSPECTS Partnership, a global initiative spearheaded by the government of the Netherlands, which aims to help host communities and forcibly displaced people access education, social protection, and decent work. Under this initiative, IFC has launched the Start Mashreq program which targets underserved communities in Jordan, Lebanon, and Iraq – including women, refugees, minorities, and those internally displaced – and helps entrepreneurs develop and pursue their ideas.

For half a century, IFC has been a steadfast partner of Jordan, supporting the private sector with investments and advice that help increase competitiveness, create jobs, build sustainable infrastructure, and improve financial inclusion. IFC has invested more than $2 billion across sectors and has helped create and maintain 18,000+ jobs per year on average, out of which more than 3,300 are held by women. IFC also established its office in Amman as a regional hub for the Middle East, Pakistan, and Afghanistan. Looking forward, IFC's priorities include creating a supportive business environment by empowering women, fostering entrepreneurship, investing in skills development, and leveraging a greener economy, while creating a pipeline for more PPPs.

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 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.

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About Care Arabia:

A regional World Bank Group initiative which is led by IFC and aims to improve women's economic participation in Jordan and Lebanon by providing access to safe and affordable childcare services. The three-year initiative aims to address gaps in the childcare sector by supporting the growth and sustainability of nurseries, and helping companies provide childcare solutions in the workplace for working parents. The initiative is made possible in partnership with the government of the Netherlands and is supported by the World Bank Group's Mashreq Gender Facility.

About 1001 Stars:

A flagship IFC initiative that aims to create equal job opportunities – especially for women, youth, and vulnerable groups, including forcibly and internally displaced people, and persons with disabilities. It is a platform for private sector leaders to create jobs and training opportunities over the next three years, paving the way for a brighter and more inclusive future across the Middle East, Pakistan, and Afghanistan.