Amman, Jordan, February 23, 2015
—IFC, a member of the World Bank Group, today signed Memorandums of Understanding with three private universities to enhance the employability of graduates in Jordan’s information and communication technology (ICT) sector, support the industry’s growth and encourage skills development across the country.
Under the MOUs, IFC and the Jordanian Ministry of Information and Communication Technology will help the three universities—Jordan University of Science and Technology, Philadelphia University, and Balqa Applied University—review and update their curriculum based on ICT market needs. This will help equip university graduates and those already working in the sector with the skills required by employers, making it easier for them to get jobs and retain their positions.
“There is a big demand for skilled labor among ICT employers,” said Azzam Sleit, Minister of Information and Communication Technology in Jordan. “Our partnership with IFC, and with public and private educators, will help us meet the demand for skilled labor, improve the competitiveness of the sector and support its growth.”
The ICT sector is expanding at a rate of 25 percent annually, making it the fastest growing industry in Jordan. It includes more than 400 companies and contributes up to 14 percent of GDP. That makes it a key engine of growth in a country where youth unemployment stands at 27 percent. But while around 5,000 people graduate each year from ICT-related disciplines, only 1,000 are able to find jobs.
“Investing in youth has the potential to drive economic growth and social progress,” said Ahmed Attiga, IFC Principal Country Officer in Jordan. “Bridging the skills gap between employers and graduates is vital to ensure the sustainability and growth of the sector.”
The agreement is part of IFC’s E4E Initiative for Arab Youth. Active since 2012 in Egypt, Jordan, Tunisia and Morocco, the program focuses on partnering with the private and public sector to help bridge the skills gap and equip young people with the abilities that employers require.
The project is supported by IFC development partners, the Netherlands, Switzerland’s State Secretariat for Economic Affairs, and UKaid.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in about 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and boost shared prosperity. In FY14, we provided more than $22 billion in financing to improve lives in developing countries and tackle the most urgent challenges of development. For more information, visit
www.ifc.org
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