Amman, Jordan, December 22, 2020—IFC, a member of the World Bank Group, partnered with Jordan's Food and Drug Administration to help Jordanian farmers, food producers, and pharmaceutical companies increase exports and expand into foreign markets. The partnership is designed to create jobs and support economic growth.
IFC will advise Jordan's FDA on improving its inspection regime, adopting international food safety standards, creating harmonized manufacturing standards for medicine, and strengthening national guidelines governing the food and pharmaceutical industries.
The reforms should make it easier for Jordanian companies to compete in new markets and help increase exports, which already account for about a third of the country's gross domestic product. Jordan exports food to 70 nations and is home to a large pharmaceutical industry that specializes in generics.
IFC is implementing this project in partnership with the European Union.
Nizar Mhaidat, Director General of Jordan's FDA, said, "To continue exporting their products and increase their sales, Jordanian producers must compete in more demanding markets, with stricter requirements for products safety and quality. The main goal of our partnership with IFC is to improve the access of Jordanian agriculture, food, and pharmaceutical products to international markets and open new opportunities for our entrepreneurs".
Abdullah Jefri, IFC's country manager for the Levant countries, said, "This work is part of our broader strategy in Jordan to support a stronger private sector, help mobilize more private investment into high-potential sectors, create new markets, and generate jobs. It also supports government efforts to create a better environment for doing business, which will increase the competitiveness of Jordanian companies in export markets and help them grow."
Through the agreement signed today, IFC will provide Jordan's FDA with legal advice and share lessons learned from other jurisdictions while working with the private sector to increase awareness about the reforms.
IFC will also help Jordan's FDA join the Pharmaceutical Inspection Co-operation Scheme, which aims at leading the development, implementation and maintenance of common standards in the field of medicinal products, supporting Jordanian exports into the European Union.
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.
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