World Bank approves USD 100 mln soft loan for Jordan

AMMAN, March 27 (KUNA) — The World Bank approved Sunday to offer Jordan USD 100 million as a soft loan to help the country create jobs for around 100,000 citizens and Syrian refugees in the Kingdom.
The loan will be granted at rates usually reserved for supporting economies of poor countries, in addition to middle-income countries such as Jordan, Jim Yong Kim, World Bank President, announced in a joint press conference with UN Secretary General Ban Ki-moon, Jordanian Foreign Minister Nasser Judeh, and Planning Minister Emad Fakhoury.
The soft loan is an interest-free that can be repaid over a period of 40 years, Kim added.
For his part, Fakhoury said his country is currently working with the World Bank on a second development policy loan at USD 250 million.
The two sides are also working on another loan, valued between USD 300 and 400 million, as part of implementing the London conference program, he added.
The Jordanian minister also described the current visit by the World Bank chief and UN Secretary General to his country as “historic and unprecedented,” adding that it also confirms the two organizations’ commitment to continue supporting Jordan through the international community. (end)