World Bank loans Jordan USD 1.45 bln

AMMAN, The Jordanian government announced Wednesday that the World Bank agreed to loan a sum of USD 1.45 billion to the Kingdom to revitalize growth and create job opportunities.

According to the Jordanian News Agency (PETRA), Mohammad Al-Asas, Minister of Planning and International Cooperation said that Jordan was in need of implementing reforms in a strategic and planned manner to address the high rates of unemployment and external challenges.

Jordan is keen on sticking with reform plans to boost growth, sustainability, and the economy, he affirmed.

On his part, Regional Director for the Mashreq Saroj Kumar Jha stressed that the World Bank was eager to assist Jordan on laying strong economic foundations to enable the Kingdom to further open the market, create job opportunities, and provide new investments.

Last Friday, minister Al-Asas said in a statement that around USD 1 billion will be used to cover the Eurobond loan, while USD 450 million will be spent on balancing the budget in order to pay for projects, reforms, and new job opportunities.

With the new sum, the total of loans provided by the World Bank to Jordan have reached USD 2.78 billion.

Source: Kuwait News Agency