Jordan in talks with World Bank for a loan worth USD 500 mil

As part of refugees-related aid programme

29 February, 12:56

    (ANSAmed) - AMMAN, FEBRUARY 29 - Jordan is in advanced talks with the World Bank for a soft loan worth USD 500 million, as part of refugees related aid programme approved by the international community in London conference, officials said Monday.

    Discussions over terms of the loan and payment details are expected to be rubber stamped by both parties in the near future, said minister of planning and international cooperation Emad Fakhouri.

    He said that talks with the world bank will be continued in the coming few weeks and an agreement could be reached 'very soon.' Officials say the funds will be allocated for infrastructure projects including health and education.

    Jordan has been heavily relying on international aid including loans and donations in order to maintain its economy.

    Economists warn that over dependency on loans will place a massive pressure on the country's economy, with foreign debt currently standing at more than 80 percent of the GDP.(ANSAmed).

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