World Bank Loan to Promote Tourism around Jordan’s Cultural Heritage

Contacts:
In Washington: Dina El Naggar (202) 473-3245
Delnaggar@worldbank.org

WASHINGTON, January 30- The World Bank Board of Executive Directors has approved a $56 million loan to support the Government of Jordan's efforts in promoting tourism and local economic development in Jordan’s most important cultural cities, including Jerash, Karak, Madaba, Salt and Aljoun.

"These 5 cities accommodate Jordan’s most important historical and cultural heritage," said Joseph Saba, World Bank Director for Iran, Iraq, Jordan, and Lebanon. "This project will help the Jordanian government to preserve the human, social, cultural and historical assets of these cities while creating the conditions for local economic development."

A particular aim of the project is to also assist the Government of Jordan in its efforts to improve tourism management in the Historic Petra Sanctuary, Jordan’s premier tourism asset and destination.

The new loan will support four project components:

• Revitalization of historic city centers, urban infrastructure improvements and cultural landscapes regeneration in and around the historic cities of Jerash, Karak, Madaba, Salt and Aljoun;
• Construction of a new visitors’ center at the Petra Sanctuary;
• Provision of financial and technical support to promote small and medium enterprises in the five cities;
• Building the capacity of municipalities and local entrepreneurs.

"A key component of the project will be to offer investment opportunities to local entrepreneurs and the private sector that would promote tourism while contributing to creating jobs," said Mohammed Fegoul, World Bank Task team Leader for the project.

This project is consistent with the World Bank’s Country Assistance Strategy in Jordan (2006-2010) and in particular its programmatic focus to strengthen the investment environment for a skill-intensive and knowledge-based economy as well as supporting local development through increased access to services and economic opportunities.

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For more information about the World Bank’s work inJordan, please visit

www.worldbank.org/jo

For more information on the project, please visit
www.worldbank.org/projects