PROJECT

Projects

Summary of Investment Information

Project Number

31625

Company Name

Al Quds for Development

Date SPI Disclosed

Feb 20, 2013

Country

Jordan

Region

Middle East

Projected Board Date

Mar 27, 2013

Environmental Category

B - Limited

Status

Active

Last Updated Date

Nov 30, 2016

Department

Regional Industry - MAS ME & Africa

Industry

Health, Education and Life Sciences

Previous Events

Approved : Nov 22, 2013
Signed : Mar 31, 2014
Invested : Jun 25, 2014

Sector

Colleges, Universities, and Professional Schools

Project Description

Luminus Group (the ‘Group’) is a leading private vocational and technical training provider in Jordan, with plans for regional expansion. Luminus Media is the media-focused technical training arm of the Group, offering certificates and diploma programs in digital filmmaking, audio engineering, animation, multimedia, web and graphic design. Luminus Education is the largest and core business line of the Group’s operations and currently serves 4,500 students. Under its umbrella lies an English language training center, a vocational and careers development training center, and Al-Quds College which was established over 30 years ago and operates as the largest vocational and technical training community college in Jordan today.

With a strategic eye on future growth and sustainability, the Group is undertaking a US$19.5 million investment program to support the Group’s expansionary plans in Jordan, Iraq, Libya, Lebanon, and Egypt.

The Project falls under the IFC’s e4e Initiative for Arab Youth (“e4e”), which is aimed at addressing the mismatch between labor market needs and the skills of Arab youth by, among its scope, enabling greater private sector provision of quality, job-oriented tertiary education.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation