AMMAN (Reuters) - The World Bank said on Monday that it had approved $700 million for two new programs aimed at strengthening Jordan's education, health and social assistance sectors.

The first program, dubbed MASAR, or pathways in Arabic, holds an assistance package worth up to $400 million towards equipping "Jordan's children and youth with relevant skills for the labor market and the country's ongoing economic transformation," a statement from the World Bank said.

The second program, known as the Jordan Human Capital Program, pledges $300 million for improving "the governance and effectiveness of social sectors," the statement added.

World Bank spokesperson Nabeel Darweesh told Reuters that the packages include $7 million in grants, with the balance of the funds in the form of concessionary loans.