JEDDAH — As part of the Islamic Development Bank (IDB)’s continued efforts to support Jordan and Lebanon to cope up with the impact of the Syrian crisis, and in line with the bank’s commitments that were made in the London Conference in February 2016 and the Brussels Conference in April 2017 with regard to IDB’s readiness to extend development finance under the Global Concessional Financing Facility (GCCF) to enhance the capacity of the Governments of Lebanon and Jordan to deliver social and infrastructure services in education, health, and water sectors.
IDB is in the process of financing two health projects in Jordan and Lebanon under the GCCF. The financing of the two projects will be on concessional terms after the Steering Committee of the GCCF, at its meeting in Amman on April 20, 2017, agreed to provide grants to these two projects to reduce the funding costs in such a way as to make them concessional and more affordable for both countries. Such concessional financing will help the two countries in reducing the costs associated with the challenges arising from the Syrian refugee’s crisis.
The Health Emergency project in Jordan costs $150 million including the IDB’s financing contribution with $79 million, $21 million as a grant from GCCF, and $50 million to be financed in parallel by the World Bank. The project aims to provide health services for uninsured Jordanians and Syrian refugees in the short term and create a more efficient health system to increase fiscal space in the medium to long term.
For Lebanon, the Health Resilience Project costs $150 million including the IDB’s financing contribution with $24 million, $6 million as a grant from GCCF, and $120 million to be financed in parallel by the World Bank.
The project aims to strengthen the primary healthcare system and community outreach to address basic health needs of Lebanese and displaced Syrians affected by the crisis, as well as procuring the essential equipment of 28 public hospitals in order to maximize the efficiency in the context of growing demand for hospital services.
The Concessional Financial Facility is an initiative established jointly by the Islamic Development Bank, the World Bank and the United Nations to increase the additional funding needed to support countries in the region to cope up with the immediate consequences of the Syrian refugee crisis. — SG
