AWC has two members in Jordan and works also with non-member organizations.
AWC monitors the policies and activities of the following International Financial Institutions (IFSs) in Jordan:
International Monetary Fund (IMF)
Jordan joined the IMF in 1952 The Jordanian government got its first loan from the IMF in 1989 Since then, Jordan received 8 loans from the IMF.
Since 2004, the IMF has been assessing the Jordanian economy annually. This assessment is known as Article IV Consultation in reference to the article number 4 in the IMF’s Articles of Agreement that established the IMF’ surveillance role.
World Bank Group (WBG)
Jordan joined the WBG in 1952. Throughout the years the bank invested in 150 projects in the Jordanian public sector. As of September 2020, the Bank has , with a total price tag of US$ 2.7 billion in low or zero interest loans and grants. And six projects in the pipeline (under preparation).
The International Finance Corporation, -the arm of the World Bank Group that invests in private sector- has an active portfolio of US$982 million in Jordan as of June 2020.
The World Bank Group prepares a Country Partnership Framework (CPF)for each country it is active in. The CPF outlines the Bank‘s strategy in this specific country y over a three to five year period. The current CPF for Jordan covers the period of 2017 through 2022.
The European Investment Bank (EIB)
EIB started its operations in Jordan in 1979. Since then, EIB invested 1.45 billion Euros in 65 projects in Jordan.
The European Bank for Reconstruction and Development (EBRD)
Jordan’s relationship with the EBRD has been recent. The first project financed by the EBRD in the country was in late 2012. Since then, and until December 2020, the EBRD invested 1.3 billion Euros in 54 projects in both the public and private sectors
The EBRD develops a Country Strategy for each country it works in that outlines its strategy framework in the country for a certain period. The last Country Strategy for Jordan was adopted in January 2020 and it covers until 2025.
Main issues that AWC focus on in Jordan
The influx of refugees from different other countries in region, meant more pressure on the scarce Jordanian natural and financial resources, and thus increasing tension between the host communities and the refugees. Many of the IFIs stepped up to ease this tension by providing low interest rates loans and grants to satisfy the increasing needs for employment opportunities and access to basic services.
However, many of those programs and projects financed by the IFIs might leave behind some of the groups they claim to benefit, Besides, in the run to meet its financial obligations, the government adopted some policies that disproportionally affected the most vulnerable among the host communities and the refugees.
AWC activities in Jordan
AWC, and its Jordanian members and partners, are monitoring closely the national economic program promoted by the IMF, and the special programs and projects that aim at easing the economic impacts of the Covid-19 pandemic.
AWC partnered with “Phenix Center for Economics and Informatics Studies” to monitor and analyze the impacts of the World Bank’s Education Reform Support Program. This program aims to facilitate access to quality education for children of the host communities and refugees. The program has been active since 2017, but was adapted, with additional financing from the World Bank, in June 2020 to account for the new challenges by the Covid-19 pandemic.