Japan provides $110 million in loan to support Jordan's budget

Jordan

Published: 2022-12-08 20:27

Last Updated: 2023-02-01 07:58


Japan provides $110 million in loan to support Jordan's budget
Japan provides $110 million in loan to support Jordan's budget

Thursday, Japan offered Jordan a concessional loan entitled “Electricity Sector Reform and Resilience Enhancement Program Loan” amounting to ¥15,000,000,000, approximately USD 110,000 million, to support the Kingdom in its promotion of the economic stabilization and development efforts.

An exchange of Notes was signed between Mr. OKUYAMA Jiro, Ambassador of Japan to Jordan, and H.E. Ms. Zeina Toukan, Minister of Planning and International Cooperation at the Ministry of Planning and International Cooperation.

Based on the Exchange of Notes, the Japan International Cooperation Agency (JICA), the implementing agency of the concessional loan, represented by Mr. ANDO Naoki, Senior Vice President, signed the Loan Agreement with Ms. Toukan on the same occasion.

Ambassador OKUYAMA said in his remarks at the ceremony; “Japan, by extending this loan, recognizes the Jordanian Government’s comprehensive reform efforts which encompass Economic Modernization Vision, launched last June by His Majesty King Abdullah II under the slogan “A Better Future”.”

This budget-support Development Policy Loan is the second part of concessional loans of up to three hundred million US Dollars pledged by the Government of Japan during the London Conference in 2019, to support Jordan’s reform efforts. The first disbursement of approximately one hundred million US Dollars was realized in December 2021.