The World Bank (WB) Group\u2019s Board of Executive Directors approved a US $374 million project to provide cash support to 270,000 poor and vulnerable households, including those who recently lost their source of income as a result of the COVID-19 pandemic in Jordan.<\/p>\n
The COVID 19 pandemic has substantially weakened Jordan\u2019s near-term growth prospects. Jordanian households are feeling the impact of this economic shock mainly through job losses and reduced earnings, according to the website of the WB.<\/p>\n
Informal workers are being particularly impacted and have no access to formal social protection schemes.<\/p>\n
\u201cIn the wake of the COVID-19 outbreak, the World Bank mobilized resources to help Jordan face the health impacts of the pandemic,\u201d said Saroj Kumar Jha, World Bank Mashreq Regional Director.<\/p>\n
\u201cThis new project aims to help Jordan address the social and economic repercussions of the crisis as a result of shrinking job markets, wage cuts and reduced income levels. Providing emergency cash transfers to poor and vulnerable households, including female headed households, is key to enable them to weather the crisis and preserve resilience and social stability.\u201d<\/p>\n
\u201cTo mitigate the impact of the COVID-19 crisis on formal sector workers, the Government of Jordan has swiftly introduced exceptional measures mandating firms to keep their workers, setting restrictions on wage cuts and providing liquidity and exemptions to firms,\u201d said Dr. Wissam Rabadi, Minister of Planning and International Cooperation.<\/p>\n
\u201cThe Government has also adopted an ambitious national program to protect poor and vulnerable households affected by the COVID-19 crisis through the National Aid Fund (NAF), Jordan\u2019s leading agency for cash transfers to the poor.\u201d<\/p>\n
Egypt Today<\/p>\n","protected":false},"excerpt":{"rendered":"
The World Bank (WB) Group\u2019s Board of Executive Directors approved a US $374 million project to provide cash support to 270,000 poor and vulnerable households, including those who recently lost their source of income as a result of the COVID-19 pandemic in Jordan. The COVID 19 pandemic has substantially weakened Jordan\u2019s near-term growth prospects. Jordanian […]<\/p>\n","protected":false},"author":40,"featured_media":186156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7863],"tags":[58608,2484,62650,21487,62649],"class_list":["post-186155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-section","tag-covid-19-crisis","tag-egypt","tag-naf","tag-wb","tag-wissam-rabadi"],"yoast_head":"\n