Amman, Jordan. November 16, 2017
—IFC, a member of the World Bank Group, signed an agreement with the government of Jordan today to help improve trade and passenger flow between the West Bank and Jordan, by expanding and refurbishing facilities at a key crossing point through a public-private partnership.
IFC will provide advisory services to Jordan’s Ministry of Public Works and Housing to develop the new King Hussein Bridge Crossing Terminal. The aim is to engage the private sector to construct and operate new facilities at the terminal, currently the only crossing point for West Bank residents to travel abroad. Existing facilities at the crossing terminal are straining to cope with increased traffic and cargo, with 97,000 cargo trucks and 2.2 million people travelling through the crossing in 2016.
The IFC team will conduct a legal, technical, commercial, and environmental and social review of the project to help develop a robust PPP transaction structure and appropriate risk allocation for the public and private sectors.
“This is a key crossing point for both the West Bank and Jordan, which also processes a significant amount for trade,” said H.E. Sami Halaseh, Minister of Public Works and Housing. “IFC’s expertise will help us structure an agreement to create a larger, more modern terminal that will help meet increasing demand, improve service levels for users, reduce transit times, and improve efficiency and working conditions for our staff.”
The proposed new terminal is expected to have state-of-the-art truck and passenger handling facilities, including modern cargo and luggage scanning, multi-traffic lane entry and exit points with electric gates and check booths, a duty-free facility, and a medical emergency centre.
“IFC has significant experience in structuring complex PPPs around the world and we are delighted to bring our expertise to this key project,” said Emmanuel Nyirinkindi, Global Head of PPP Advisory from IFC. “The new facility will help improve passengers’ experiences and also boost the flow of trade between the West Bank and Jordan.”
The World Bank Group-managed Global Infrastructure Facility will support this key project by funding the legal and technical consultancy work required, as well as any required capacity-building support.
IFC has advised governments in the region on a wide range of projects, including structuring the Queen Alia International Airport PPP in Jordan, the New Cairo Wastewater Treatment plant in Egypt, and the West Bank solid waste management PPP for the townships of Hebron and Bethlehem, to name a few. IFC has also committed a total of $766 million in a variety of projects in the country in FY17.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit
www.ifc.org
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