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
“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.
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