Planning Ministry signs $250m World Bank loan

تم نشره في Sat 12 April / Apr 2014. 04:58 PM

AMMAN - The Ministry of Planning and International Cooperation signed with the World Bank the Second Programmatic Development Policy Loan valued at $250 million.

The agreement was signed on the sidelines of the Spring Meetings of the World Bank and the International Monetary Fund currently being held in Washington. The Minister of Planning and International Cooperation, Ibrhaim Saif, and the Vice President of the Middle East and North Africa at the World Bank, Inger Andersen, inked the pact.

The World Bank's Board of Executive Directors approved the loan to Jordan on March 13. The objective of the project is to improve Jordan's transparency and accountability, enhance debt management and make government spending more prudent, besides promoting private sector-driven growth.

During the signing ceremony, the minister stressed the importance of the strategic relationship between Jordan and the Bank as well as the support provided by the Bank to Jordan in various fields.

Andersen, on her part, voiced appreciation for the progress that Jordan made in terms of implementing various reform measures as well as the Kingdom's efforts to host Syrian refugees despite the financial hardships it faces.

The minister also met with senior Bank officials and discussed with them bilateral cooperation as well as projects financed by the Bank in Jordan. (Petra)