Last Update 10:46
Saturday, 24 August 2019

World Bank grants Jordan $70 mn to ease youth unemployment

Grant will go towards providing small loans to young people in depressed rural areas who have borne brunt of Jordan's economic malaise

Reuters, Wednesday 6 Mar 2013
Views: 773
Views: 773

The World Bank has granted Jordan $70 million to provide small loans to young people in depressed rural areas who have borne the brunt of the country's sluggish economic growth.

With almost 40 percent of Jordan's seven-million-strong population under 15 years old, youth unemployment – which has almost doubled over the past decade – remains acute.

Every year, there are at least 50,000 new entrants to Jordan's labour market.

"This loan will support the creation of much needed employment opportunities for Jordan's growing population of young people," the World Bank's Ferid Belhaj said in a statement.

Belhaj added that the move would also aid in alleviating poverty and boosting economic growth.

Arab uprisings in the region have negatively impacted the Hashemite Kingdom's economic growth, hitting domestic demand and reducing the inflow of cash from overseas, especially remittances sent home by Jordanian expatriates.

According to Jordanian government figures, the national unemployment rate currently stands at 14 percent, although independent economists put the number considerably higher.

Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.