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World Bank Supports Jordan’s Green, Resilient, and Inclusive Recovery

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The World Bank Group’s Board of Executive Directors approved on June 10, 2021 a US$500 million Program to catalyze public and private investment in Jordan for a green and inclusive recovery from the COVID-19 pandemic. The program is expected to help Jordan accelerate its recovery and create more jobs by capitalizing on the economy’s potential, especially its green growth opportunities, and to strengthen the Government’s accountability mechanisms for delivery. The Asian Infrastructure Investment Bank (AIIB) is also preparing an additional US$250 million in financing to support the Program.

The Inclusive, Transparent and Climate Responsive Investments Program-for-Results (PforR) is part of the US$1.1 billion recently announced by the World Bank Group (WBG) in combined loans and grant financing support from the WBG and international partners to support Jordan in responding to the pandemic and promoting an early, climate-resilient, and inclusive recovery.

Jordan is ready to embark on a climate-responsive recovery and a new growth trajectory. Climate risks due to water scarcity, rising temperatures, and extreme weather present new opportunities for Jordan to become more resource-efficient and more competitive. Investing in greening of infrastructure and services creates jobs and economic value. Jordan’s Nationally Determined Contributions (NDC) under the Paris Agreement on climate change provides a platform to identify opportunities that also benefit the society.

The Program also helps Jordan to include gender-informed assessments in investment design and policy formulation. This is important as less than 15% of Jordanian women in the country were in the labor force in 2019, one of the lowest rates in the world, marking an enormous untapped potential for the economy and society.

Jordan is ready to turn the corner on its investment environment and to develop a greener, more climate responsive and more efficient economy,” said Nasser Shraideh, Minister of Planning and International Cooperation of Jordan. “This program will help Jordan move in that direction and kickstart the post-pandemic economic recovery.”

Jordan has been one of the most active and pioneering countries in the region in ratifying and adopting international climate change initiatives, including the Paris Agreement,” said Saroj Kumar Jha, Mashreq Regional Director, World Bank Group. “Jordan can now capitalize on these efforts to become an attractive destination for green and climate-related investments.”

The Program supports the implementation of investment reforms that were initiated under the Five-Year Reform Matrix. These reforms (i) strengthen processes and systems to deliver well-targeted public investments, including Public-Private Partnerships (PPPs); and (ii) further improve the environment for private investment, including tourism. In both cases the program supports the greening of investment,” said Christos Kostopoulos, World Bank Lead Economist.

The Program will also promote inclusion and transparency in its implementation. The PforR includes enhanced public consultation processes and supports greater accessibility of data to deliver more citizen-informed and better results. The PforR will institutionalize public consultation in the preparation of large capital projects to ensure that public investment promotes social inclusion and caters to the needs of citizens, including marginalized people and those with disabilities. The public will also be consulted during implementation and ex-post evaluation.

Alongside the PforR, the World Bank will also be launching a Country Climate and Development Report (CCDR), a flagship analytic report, to support evidence-based policies and reforms to green the economy, create jobs, and attract private sector capital. Jordan will be one of the first countries globally to pilot the CCDR.

The Program-for-Results is a World Bank Group financing instrument that supports programs already included in the government budget. Importantly, it links the disbursement of funds directly to the achievement of specific agreed program results over the five-year program period. The targeted results are publicly disclosed upon project approval, and achievement of results during the course of program implementation is verified by the Jordan Audit Bureau and validated by the World Bank.

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Economic Recovery Plans Essential to Delivering Inclusive and Green Growth

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EU member states must ensure careful and efficient implementation of economic recovery plans that support inclusion and growth to bounce back from the worst impacts of the COVID-19 pandemic, says a new World Bank report.  

The World Bank’s latest EU Regular Economic Report – entitledInclusive Growth at a Crossroads – finds that the unprecedented and exceptional policy response of governments and EU institutions has cushioned the worst impacts on employment and income. However, the pandemic has exposed and exacerbated deep-seated inequalities, halting progress in multiple areas including gender equality and income convergence across the EU member states. A further three to five million people in the EU today are estimated to be ‘at risk of poverty,’ based on national thresholds benchmarked before the crisis.

The report highlights that effective recovery programs can reinforce progress on the green and digital transitions underway across the region. With the crisis continuing to unfold, government support schemes and the rollout of vaccines in a timely manner will remain essential to bolstering the resilience of firms, workers, and households. Given the longevity of the crisis and the impact on the most vulnerable, many governments have opted to extend the duration of support throughout 2021.

“A green, digital and inclusive transition is possible if economic policy is increasingly geared towards reforms and investment in education, health and sustainable infrastructure,” said Gallina A. Vincelette, Director for the European Union Countries at the World Bank.

With an output contraction of 6.1 percent in 2020, the COVID-19 pandemic has triggered the sharpest peacetime recession in the EU. Governments will need to ensure targeted and active labor market policies are in place to support an inclusive recovery. The report highlights that special attention should be given to already vulnerable workers such as youth, the self-employed, and those in informal employment. These groups are more likely to face employment adjustments during the crisis and may face longer spells of unemployment or periods outside the labor force.

Women have been disproportionately impacted by work disruptions during the pandemic, particularly in the sectors facing the worst effects of the crisis. This was also highlighted in the 2020 Regular Economic Report produced by the World Bank, which found that at least one in five women will face difficulty returning to work compared to one in ten men. It has been harder for women to resume work due to the sectors and occupations that they are working in and because of the additional care burdens that have fallen disproportionately on their shoulders – a manifestation of increasing inequities in home environments.

“As recovery takes hold, it will be important for carefully targeted and coordinated policy support to continue to mitigate the impact of the crisis, with measures increasingly targeted towards vulnerable households and viable firms. Policy makers will also need to strike a balance between helping those that need it most, while enhancing the productivity of the economy and keeping debt at manageable levels,” added Vincelette.

World Bank’s Regional Action in Europe and Central Asia

To date, the World Bank has committed more than $1.7 billion to help emerging economies in Europe and Central Asia mitigate the impacts of COVID-19. Since April 2020, around $866 million has been approved through new emergency response (MPA/Vaccines) projects. In addition, up to $904 million is being reallocated, used, or made available from existing projects and lending, including additional financing, to help countries with their COVID-19 response.

The World Bank’s Global Economic Prospects suggests that growth will be strong but uneven in 2021. The global economy is set to expand 5.6 percent—its strongest post-recession pace in 80 years. The recovery largely reflects sharp rebounds in some major economies.

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ADB Calls for Just, Equitable Transition Toward Net Zero in Asia and Pacific

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Asian Development Bank (ADB) President Masatsugu Asakawa today called for countries in Asia and the Pacific to take bold action to address climate change while ensuring fair and equitable economic growth amid the coronavirus disease (COVID-19) pandemic.

“The task of addressing climate change is not only urgent, but also inextricably linked to an inclusive and lasting recovery from the pandemic,” said Mr. Asakawa at the Indonesian Ministry of Finance–ADB 2021 International Climate Conference. “With shared commitment and international cooperation, we can make the transition to net zero and achieve climate resilience, so that our region emerges stronger than before.”

The one-day virtual conference attracted about 800 people from the public and private sectors, development partners, think tanks, and academia to discuss international good practices that can help ADB developing member countries transition to low-carbon, resilient economies and pursue a green, resilient, and inclusive recovery from the COVID-19 pandemic.

The event highlighted Indonesia’s commitment to meeting its nationally determined contributions (NDCs) under the Paris Agreement, as well as steps it has taken to support the development of a low-carbon, resilient economy.

“Indonesia has mainstreamed climate change into our National Medium-Term Development Plan 2020–2024 and established a national Action Plan, both on mitigation and adaptation,” said Indonesian Vice Minister of Finance Suahasil Nazara. “In the near future, we will use this recovery phase post-COVID-19 pandemic to pursue our climate and sustainability agenda.” Indonesia will chair the G20 in 2022.

Asia and the Pacific is responsible for more than half of global greenhouse gas emissions. Recent analysis predicts that global energy-related CO2 emissions will grow by nearly 5% in 2021, as demand for coal, oil, and gas rebounds. About 80% of the growth in coal demand is expected to come from Asia.

The Paris Agreement aims to keep the rise in global temperatures to well below 2°C, preferably to 1.5°C, compared to pre-industrial levels. ADB’s sovereign operations will be fully aligned with the goals of the Paris Agreement by 1 July 2023 and its nonsovereign operations by 1 July 2025. ADB will scale up investments in adaptation and resilience to at least $9 billion from 2019 to 2024 to support Asia and the Pacific’s recovery from the COVID-19 pandemic. The measures will contribute to ADB’s commitment to deliver $80 billion in climate finance between 2019 and 2030.

Mr. Asakawa said ADB will support Indonesia’s transition toward a low-carbon, resilient economy and help the country meet its NDC targets. Strengthening resilience is one of the three focus areas in ADB’s country partnership strategy for Indonesia. That includes climate change mitigation and adaptation and green recovery, as well as disaster risk management and finance.

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10 new cities chosen for World Economic Forum circular economy initiative

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The World Economic Forum’s Scale360° initiative announced today the 10 city-based hubs joining its Circular Shapers programme.

Scale360° leverages innovation hubs in cities, countries and regions worldwide, bringing together leaders in science, policy and business to trigger circular change. Circular Shapers engage with local public, private, and civil society stakeholders to design, organise, and deliver circular economy projects tailored to local needs.

Circular Shapers are competitively selected from the Global Shapers Community, a network of committed and energized young volunteers in 448 city-based hubs around the world. These changemakers have the energy, skill, networks and commitment needed to transform their cities into centres of circular economy innovation.

The latest Circular Shaper cohort hails from four continents and includes: Ankara, Asuncion, Auckland, Beijing, Bucharest, Lahore, Manama, Milan, Morelia, and Thimphu.

The cities selected to the latest cohort will apply Scale360°’s tested methodology – the Scale360° Circular Innovation Playbook – to fast-track Fourth Industrial Revolution impact to keep more goods in use. Their initiatives will explore ways to apply circular design principles, improve reuse, and to eliminate waste, all while strengthening economies and boosting job growth.

These join the successful pilot cohort which included four Global Shapers hubs in Mexico City, Brussels, Turin and Bangkok and ran from February to July 2021.

In just a few months, those pilot cities built critical relationships with leaders in government, the private sector, and NGOs, making critical early steps towards driving circular innovation. Specific achievements include:

Bangkok: Mobilized a range of partners from researchers to advertising agencies to popularize solutions to air pollution and plastics. Solutions included: assembling a catalogue to help businesses choose alternatives to single-use plastics in food packaging and a social media campaign to build momentum for clean air regulation.

Brussels: Partnered with local NGOs on its “Eat, Play, Live Circular” initiatives to create bottom-up solutions for more circular lifestyles. Initiatives included an ‘Idea-thon’ for food and packaging waste solutions and a series of experiments with the public to make one Brussels public space more circular.

Mexico City: Trained public, private and government stakeholders in Scale360° methodology to bridge circular economy knowledge gaps and drive the circular transition through focusing early conversations. 

Turin: Built critical relationships with stakeholders from 14 organizations including regional policy makers, members of the private sector, academia, and existing networks to help foster and support much-needed discussions and collaboration on circular needs and priorities.


The Circular Shapers tap into World Economic Forum networks of experts and leaders in civil society, government, industry global organizations, including the Platform for Accelerating Circular Economy (PACE). 

“It’s powerful to see how Scale360° methodology has spread so rapidly and empowered Global Shapers to become leaders driving circular innovation in their cities. Now in 14 hubs around the world, Circular Shapers is one of the largest cross-hub collaborations in the Global Shapers Community,” said Katie Hoeflinger, Specialist, Climate and Environment, Global Shapers Community.

The United Arab Emirates, a key supporter of Scale360°’s approaches, agrees that these new hubs will play an important role in building circular innovation. “The UAE supports Scale360° in driving the transition to circular economy locally and globally,” said his Excellency Dr. Abdullah Belhaif Al Nuaimi, Minister of Climate Change and Environment. “This program will go a long way in fostering innovations that have the potential to fast-track the implementation of the circular economy principles around the world.”

These efforts can also fuel a just transition, noted Head of Global Opportunities for Sustainable Development Goals (GO4SDGs), United Nations Environment Programme (UNEP), Adriana Zacarias Farah. “Jobs and skills are central to getting the political buy-in for the transformation from linear to circular. UNEP through the initiative Global Opportunities for SDGS (GO4SDGS) is happy to collaborate with the Forum and Scale360° on circular cities and the just transition narrative.”

Building circular capabilities can help meet critical climate goals. “Scaling up circular business models and solutions is vital for environmental reasons and needs to happen fast,” said Carsten Gerhardt, Partner at Kearney and Founder at Circular Valley (leading partners of Scale360° Germany).

With new Circular Shaper hubs in place, momentum for circular innovation can build further. Added Scale360°’s Global Lead, Helen Burdett: “This latest cohort is another example of local action for global impact on the circular economy transition.”

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