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.
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,