Project profile — Global Concessional Financing Facility - Jordan - 3

The Global Concessional Financing Facility (GCFF), established in July 2016, is an innovative financing mechanism designed to mobilize financial resources to support middle-income countries affected by refugee crises. In recognition of these countries’ global public good in hosting significant populations of refugees, the institution uses donor contributions to significantly reduce the interest rates on loans provided to host countries by partner multilateral development banks. This lower-cost financing targets projects that improve the well-being of refugees and local host communities in areas such as education, health, and job creation to create sustainable development outcomes. As one of ten supporting donors, Canada is a member of the Steering Committee for this financing mechanism.

The expected outcomes of this project include: (1) enhanced economic opportunities for refugee and host community women and men; (2) improved, more equitable access to and quality of essential services and infrastructure for refugee and host community women, men, girls and boys; and (3) enhanced international burden sharing, partnerships and coordination of the international response to the Syria crisis in Jordan.

Results achieved at the end of the project (December 2023) include: (1) mobilized grants totalling US$ 509 million from ten supporting countries, including Canada and Multilateral Development Banks, which leveraged US$2.8 billion in concessional financing for Jordan; (2) supported promoting ‘nexus’ solutions, including for example, water efficiency or improved water services for refugees and host communities, wastewater treatment and climate-smart agriculture; (3) helped support the Government of Jordan in providing over 340,000 work permits to refugees free of charge, lift restrictions in various sectors, and promoting refugee home-based businesses, especially women-owned ones. GCFF-financed programs promote economic opportunities, training, and value chain development in digital or information technology and agriculture Sectors; (4) supported more than 112,600 Jordanians and Syrian refugees enrolled in Kindergarten and more than 163,500 Syrian children’s access to improved teaching and learning conditions; (5) completed rainwater harvesting structures for 1600 households, supporting thousands of livestock herders and farmers; and (6) created 2,680 jobs or income opportunities and leveraged another 6,756 jobs through the Ministry of Digital Economy and Entrepreneurship for Jordanians and refugees.