Jordan receives soft loan, grant from WB

Jordan has signed $52.8 million soft loan and grant agreements with the World Bank and Japan Social Development Fund (JSDF) to support the state budget and finance social projects targeting youths in the Kingdom, the Ministry of Planning and International Cooperation said in a statement.

The two agreements were signed during a recent visit by Minister of Planning and International Cooperation Imad Fakhoury to Washington. During the visit, the minister discussed the planned U.S. aid to Jordan in 2018. He also discussed renewing the Jordanian-U.S. memorandum of understanding for 2018-2022, governing the military and economic aid to Jordan.

Fakhoury said the first agreement is a $50 support to the Kingdom budget, of which $36.1 million were granted as a soft loan, while the remaining $13.9 million were a grant within the Concessional Financing Facility (CFF), which was launched last year and is run by the World Bank.

The second agreement is a $2.8 million grant by the Japan Social Development Fund (JSDF), which aims to provide integrated social services for youths in the Kingdom.

Source: Fana News