Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Jordan secures 700-mln-euro soft loan from EU

Jordan secures 700-mln-euro soft loan from EU

Photo Credit :

Amman [Jordan], September 28 (ANI/Xinhua): Jordan on Sunday signed a soft loan agreement with the European Union (EU) under which the kingdom will receive 700 million euros (813.93 million US dollars).
The financing program by the EU will be disbursed to Jordan in three batches starting from October, the Ministry of Planning and International Cooperation said in a statement Sunday.
Jordanian Minister of Planning and International Cooperation Wissam Rabadi said the loan would be provided with a competitive interest rate and a long repayment period of an average of 15 years.
He stressed that the concessional loan would support a range of reforms adopted by Jordan in priority areas, such as enhancing public finances, developing the electronic billing system, and increasing transparency and efficiency of public investment projects.
Initially, the EU agreed to afford Jordan a 500-million-euro soft loan in 2020. However, the amount was increased by 200 million euros in May in response to the COVID-19 pandemic. (ANI/Xinhua)

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


Tags assigned to this article:
jordan soft loan european union COVID-19

ANI

ANI

More From The Author >>