Finance Jordan gets $2bn to support national projects Jordan has secured more than $2 billion in grants and concessional loans to build a series of development projects, according to local media. The agreements were signed last month with the World Bank, Germany’s KfW Development Bank, the Netherlands embassy and the Arab Fund for Economic and Social Development (AFESD), Jordan Times newspaper reported, quoting […] May 19, 2025
Banking and Finance Jordan’s Bank al Etihad buys smaller Investbank Jordan’s Bank al Etihad has acquired smaller peer Investbank in a deal that will create one of the kingdom’s biggest lenders, bank officials said on Thursday. The two banks’ boards agreed to a stock-for-stock acquisition that will create an entity with a total equity value of over $1.4 billion, Bank al Etihad chairman Basem Salfiti […] May 16, 2025
Oil & Gas Jordan plans drilling campaign to bolster gas supplies Jordan’s state-owned National Petroleum Company (NPC) plans to drill 145 wells at the country’s Risha gas field through to 2030 to help reduce its reliance on imports, local newspapers reported. The company’s 2025-30 plan targets the production of 418 million cubic feet of gas, Jordan Times newspaper reported, citing NPC director-general Mohammed Khasawneh. It did […] May 8, 2025
Analysis Economy Jordan caught under Trump tariffs’ sword of Damocles The Middle East and North Africa is expected largely to avoid the direct impact of President Donald Trump’s new tariffs, with the possible exception of Jordan. The spectre of a 20 percent US tariff taking effect in July is “difficult to ignore,” according to Racha Helwa, a senior economist and director of the empowerME Initiative […] May 5, 2025
Development Jordan wins exemption from Trump’s freeze on US aid Millions of dollars in US grants for Jordan’s largest water desalination project dried up when President Donald Trump announced sweeping cuts to foreign aid in January. Within two months, support was flowing again – a result of diplomacy that has arguably put the Middle Eastern state on a more solid financial footing than before January, […] April 30, 2025
Oil & Gas Jordan to increase gas production from Risha field Jordan is planning to build a 320km pipeline to distribute gas for the domestic market from the Risha field in the northwest of the country, according to an official. The project also includes the construction of a gas treatment plant near Risha, where the country’s largest reserves are located. Officials have said Risha holds nearly […] April 18, 2025
Economy Jordan receives $130m from IMF The International Monetary Fund (IMF) has released $130 million to Jordan as part of an extended fund facility of $1.2 billion which was approved in January 2024. “Jordan’s economy continues to show resilience and macroeconomic stability has been maintained, despite considerable external headwinds from the conflicts in Gaza and Lebanon,” the IMF said in a statement. […] April 18, 2025
Analysis Manufacturing Jordan’s surging pharma industry may hit US tariff speedbump Growing Gulf spending on health is boosting Jordan’s pharmaceutical industry, but new US tariffs pose a risk to its future, according to analysts. Pharmaceutical exports from Jordan grew by 15 percent last year to $862 million. Another 11 percent growth was projected for this year and further expansion to $1.4 billion in 2029, according to […] April 10, 2025
Renewable Energy Jordan’s new electricity law to focus on hydrogen A new electricity law in Jordan will focus on expanding reliance on renewable energy and attracting investment in hydrogen production. Jordan’s parliamentary energy and mineral resources committee discussed the draft law on Sunday ahead of final endorsement by parliament. The draft law, approved by the cabinet in February, will replace provisional legislation which has been […] April 8, 2025
Economy Jordan’s 2024 economic growth beats initial forecast Jordan’s gross domestic product (GDP) expanded 2.7 percent year on year in the fourth quarter of 2024, beating a consensus forecast of 2.5 percent, according to official government data. Full-year growth reached 2.5 percent, surpassing the initial forecast of 2.3 percent despite regional headwinds, state-run Jordan News Agency reported citing data from the statistics department. […] April 7, 2025
Infrastructure Next phase of Jordan-Iraq power link due by late July The second phase of a Jordan-Iraq electricity interconnection project is set for completion by the end of July, a news report has said. Almost 95 percent of the project’s civil works have been finalised, with installation of electrical equipment and essential testing remaining, Jordan News Agency reported citing Sufyan Batayneh, director general of the state-run […] March 31, 2025
Economy Jordan most active gold trader as Mena states adjust holdings Middle Eastern states are upping their trade in gold as price shifts create opportunity. Qatar, Egypt and Jordan have all bought sizeable amounts of gold in recent months, according to data from the World Gold Council and official announcements. Qatar and Egypt increased their holdings by 1.2 and 0.5 tonnes respectively, March data from the […] March 14, 2025
Oil & Gas Qatar to supply Syria with natural gas to ease power crisis Qatar has signed an agreement to supply natural gas to Syria via Jordan, a significant step towards addressing the war-torn nation’s energy crisis. The agreement, signed between Qatar Fund for Development (QFFD) and Jordan’s energy ministry, in collaboration with the United Nations Development Programme, will contribute to generating up to 400 megawatts of electricity daily […] March 14, 2025
Economy Jordan’s economy on growth track as tourism recovers Jordan’s economy is forecast to grow by 2.7 percent in 2025 as tourism recovers and trade with Syria and Iraq starts to rise gradually, S&P Global said. Tourism contributes an estimated 15 percent to Jordan’s GDP, with about three-quarters of it sourced from Arab visitors, including Jordanians living abroad. “We expect the number of Arab […] March 10, 2025
Economy Higher current spending widens Jordan’s fiscal gap Higher current expenditure widened Jordan’s budget deficit last year despite growth in revenues, the country’s finance ministry has reported. Total spending was JD11.6 billion ($16.4 billion) in 2024 compared with JD11 billion in 2023, an increase of 5 percent, the ministry said in its January bulletin published on its website at the weekend. Current expenditure, […] March 6, 2025
Infrastructure Water projects take priority in Jordan’s PPP pipeline Jordan is planning to launch public-private partnerships (PPP) valued at more than $1 billion this year – and that figure may soon rise to $2 billion, according to an official. Hamza Alhajaya, head of Jordan’s PPP unit, told AGBI that Jordan is already expecting to publish tenders for seven projects in 2025 worth a total […] February 26, 2025
Food & Drink Bring back smoking, say Jordan restaurateurs Bring back smoking! That is how desperate restaurateurs and cafe owners feel in Jordan after a drop in tourism last year, linked primarily to the wars in the Middle East. Among other measures, restaurateurs want the return of the shisha, the waterpipe smoking device that is popular across the Arab world, and over which smokers can […] February 21, 2025
Aviation Passenger traffic rises 13% in Jordan’s largest airport Passenger volumes at Queen Alia International Airport (QAIA), Jordan’s largest airport, recovered in January, the Jordan Times reported. Data from the airport’s operator Airport International Group (AIG) showed that QAIA received 784,992 passengers last month, a 13 percent year-on-year increase. Aircraft movements grew 5 percent year on year to 6,061 flights, but air freight traffic […] February 19, 2025
Logistics AD Ports to operate customs centre in Jordan Abu Dhabi’s AD Ports Group has won a contract to manage and operate a new customs centre in Amman, Jordan, the company said in a statement. The company aims to increase cross-border trade, reduce clearance times, and enhance supply chain efficiency at the 1.3 million sq m Al Madouneh Customs Centre, which opened last June. […] February 13, 2025
Banking and Finance Arab Bank plans 40% dividend after record 2024 profit The board of Jordan’s Arab Bank Group has proposed a dividend of 40 percent for 2024 after profit reached a record high. Net profit rose 21 percent to more than $1 billion in 2024 compared to $829.6 million in 2023. The profit rise was driven by growth across various business segments and geographic markets. Operating […] February 2, 2025
Banking and Finance Dubai’s Fintech Galaxy to test open banking in Jordan Dubai company Fintech Galaxy has become the first open banking company to receive regulatory approval in Jordan. The Central Bank of Jordan’s (CBJ) approval will allow the fintech to join the regulatory sandbox, JoRegBox, to test and deploy open banking services in the country. The JoRegBox initiative is part of the central bank’s broader plan for financial technology […] January 31, 2025
Economy EU’s $3bn to back Jordan’s economy amid challenges The European Union (EU) will provide a €3 billion ($3.13 billion) financial package to Jordan to support its growth, as it manages the impact of regional geopolitical challenges. The 2025-2027 financial package will include €640 million in grants, €1.4 billion in investments, and €1 billion in macro-financial assistance. “Jordan is a key partner for Europe in the Middle […] January 30, 2025
