Gov’t, French Development Agency Sign EURO132m Loan

AMMAN — The Ministry of Planning and International Cooperation signed with the French Development Agency two soft loans totalling 132 million euros to support the budget and improve the water sector performance in northern Jordan.

The agreements were signed by Minister of Planning and International Cooperation Emad Fakhori and Executive Director in charge of Operations at the French Development Agency Laurence Breton-Moyet.

The first municipal finance sector policy loan agreement in the amount of Euro 100 million aims at strengthening the national framework to improve municipal financial sustainability; strengthening municipal financial management systems and capacities; and strengthening the contribution of the Cities and Villages Development Bank (CVDB) to municipal development financing.

This amount will be disbursed over two equal tranches one before end of 2016 and the other in 2017.

The second loan agreement in the amount of Euro 32 million aims to support the project "Improved access to water, water distribution performance and related sewerage disposal in Irbid Governorate for host communities and Syrian refugees".

This project was announced during the Government’s visit to Irbid Governorate on 25 July 2016.

The loan is part of the total financing amount of the project Euro 144 million and comes in the context of the London Conference Pledges in support to the Jordan Response Plan as well as our Executive Development Program 2016-2018, of which 50% is a highly concessional loans from AfD and KfW and remaining amount in the form of grants from the EU and KfW where we look forward to concluding and signing the remaining grant agreements with the EU before end of 2016 and those agreements with KfW in early 2017.

The project aims at expanding and improving the performance of the water networks in Greater Irbid and Ramtha; connecting to sewerage networks the unserved areas of Irbid; capacity strengthening of Yarmouk Water Company staff for operations and maintenance of the expanded and restructured networks; and improving access to water of the vulnerable communities, both Syrian and Jordanian, thus contributing to lowering the water-service-related tensions, and hence resilience.


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