JICA Transfers 2nd Instalment of Soft Loan Worth USD170m

تم نشره في Sat 30 December / Dec 2017. 01:00 AM
  • Minister of Planning and International Cooperation, Emad Fakhouri - (Archives)

AMMAN — Japan has transferred a USD170 million in soft loan to Jordan as a direct support to the general budget, a Planning and International Cooperation Ministry's statement said on Saturday.

The loan, extended through the Japan International Cooperation Agency (JICA), will go towards supporting the government’s "Financial Sector, Business Environment and Public Service Reform Policy".

It is the second instalment of a soft loan agreement worth USD250 million that was signed December 2016, when JICA paid the first instalment worth USD85 million.

The loan is to be repaid over a 30-year period with a 10-year grace period and an interest rate of 0.2 per cent, according to the statement.

Planning and International Cooperation Minister, Emad Fakhouri Commending Japan’s continuous support to the Kingdom as a key partner in pushing the development process forward and for its efforts in supporting Jordan to finance priority development programmes in the economic and social fields.

Fakhouri noted the "deep rooted" relations between Jordan and Japan, praising the Japanese government's understanding of the challenges that Jordan is facing due to regional turmoil.

In 2016, Japan extended two grants worth USD26.03 million to Jordan to support the Kingdom’s humanitarian role towards the Syrian refugees. The grants were used to purchase equipment for the ministries of water and municipal affairs, in addition to enhancing security measures at the borders.

Since 1999 till 2017, Jordan has received more than USD1.3 billion in support from Japan, of which USD527.32 million as grants and the rest in soft loans, in addition to JICA's technical support to the Kingdom.

In 2012, JICA extended USD750 million as concessional loans to support the general budget of Jordan.