Annex 4 -Operational Risk Assessment Framework (ORAF) Enhancing Governance and Strengthening the Regulatory and Institutional Framework for Micro, Small, and Medium Enterprise Development Project The Hashemite Kingdom of Jordan Project Stakeholder Risks Moderate Stakeholder Risk Rating Description: Risk Management: CBJ- Principal risks Risk Management: CBJ come from a delay Developing the legal regulatory and institutional financial infrastructure to enhance sustainable access to finance for micro, small and medium enterprises has been an important component of the government‘s agenda. The CBJ is an or reversal of policy commitment to independent entity responsible for regulating and supervising the Banking system in Jordan. The Bank has an enhance access of extended and sustained program with CBJ and found it to be a reliable counterpart from technical and implementation stand point as evident in the on-going MSME Development for inclusive Growth in Jordan Project MSMEs to finance due to turnover of which is performing well and has already disbursed US$ 48 million. Moreover, MSME development has remained a leadership constant agenda. Taking this into account , it is not anticipated that the Government would reverse its support for the objectives and activities proposed above for the project Donors–there are a large number of The World Bank will work closely with all stakeholders including the Jordanian donors and Risk Management: Donors. development authorities, CBJ, JLGC and other donors and development agencies to ensure effective coordination, synergies and a agencies that are consistent message. working on financial inclusion in Jordan which could result in a lack of coordination.
Annex 4 -Operational Risk Assessment Framework (ORAF) Enhancing Governance and Strengthening the Regulatory and Institutional Framework for Micro, Small, and Medium Enterprise Development Project The Hashemite Kingdom of Jordan Project Stakeholder Risks Stakeholder Risk Rating Moderate Description: CBJ- Principal risks come from a delay or reversal of policy commitment to enhance access of MSMEs to finance due to turnover of leadership Donors–there are a large number of donors and development agencies that are working on financial inclusion in Jordan which could result in a lack of coordination. Risk Management: Risk Management: CBJ Developing the legal regulatory and institutional financial infrastructure to enhance sustainable access to finance for micro, small and medium enterprises has been an important component of the government‘s agenda. The CBJ is an independent entity responsible for regulating and supervising the Banking system in Jordan. The Bank has an extended and sustained program with CBJ and found it to be a reliable counterpart from technical and implementation stand point as evident in the on-going MSME Development for inclusive Growth in Jordan Project which is performing well and has already disbursed US$ 48 million. Moreover, MSME development has remained a constant agenda. Taking this into account , it is not anticipated that the Government would reverse its support for the objectives and activities proposed above for the project Risk Management: Donors. The World Bank will work closely with all stakeholders including the Jordanian authorities, CBJ, JLGC and other donors and development agencies to ensure effective coordination, synergies and a consistent message.