World Bank allocates USD97 million to support modernization of education in Jordan

Date

10/21/2024 5:10:07 AM

(MENAFN) The World bank has allocated USD97 million to support the modernization of education in Jordan through the Education, Skills and Management Reform Modernization Process (MASAR) project. This funding, transferred by the Bank through the end of September, represents 24% of the total financing designated for the initiative.

Launched on June 27 of this year, the MASAR project has a total cost of approximately USD400 million. It is primarily financed by a loan from the International Bank for Reconstruction and Development, amounting to USD393 million, along with an additional USD7 million from a concessional financing facility.

According to the “Implementation and Results” report recently released by the World Bank and reviewed by Al-Ghad, around USD95.3 million has been allocated to the project from the Bank’s loan, while approximately USD1.68 million has been disbursed through the concessional financing mechanism.

The primary aim of the MASAR project is to enhance access to basic education and improve labor-related technical and vocational education and training. Additionally, it seeks to boost the efficiency of the education sector’s management. The project, set to be implemented over a five-year period from 2024 to 2029, aligns with the government’s reform plans in education, which are integral to the broader vision of economic modernization and the public sector modernization strategy.

The report indicates that the project has made satisfactory progress toward its developmental objectives and is advancing well in its overall implementation. This reflects a commitment to reforming the education sector in Jordan, ultimately aiming to provide better educational opportunities and outcomes for its citizens.

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