Japan to Provide $254m Grant to Jordan

The Jordanian government signed with its Japanese counterpart on Wednesday, a $254-million grant agreement to enhance the financial situation and support development policies to reform public services in the kingdom.

    The agreement was signed by Minister of Planning and International Cooperation Imad Fakhoury and the Japanese Ambassador to Jordan Shuichi Sakurai and chief representative of the Japan International Cooperation Agency in Amman.

    Fakhoury said in a statement that the loan supports the general budget in order to address challenges that face the Kingdom due to the influx of a large number of Syrian refugees to the Kingdom, noting that the first batch worth 85 million dollars will be transferred to the general treasury account before the end of the year while the rest of the money will be transferred in the last quarter of next year.

    With regards to the loan repayment, Fakhoury stated that it will be done over 30 years including ten years of grace period with an interest rate of 2.0%, noting Japan's continued support for Jordan.

    The Japanese ambassador stressed his country's commitment to provide support to the Kingdom in various domains, thus further boosting bilateral ties.