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22-09-18
Jordan's USD300m debt to Kuwait pushed 40 years
(MENAFN) Kuwait was announced to have pushed Jordan's USD300 million debt to forty years, adding fifteen years of grace period.
The rescheduling has come in a deal of which the Kuwait Fund for Arab Economic Development inked with Jordan on Thursday.
The agreement is to allow lessening Jordan's burden, lending a hand in making it defeat crucial obstacles surfaced from regional instability and negative economic impact.
The agreement is to be a great assistance of Jordan as it faces high public debt, stressed Ziad Obeidat, acting secretary general of the Jordanian Ministry of Planning and International Cooperation.
The ministry's acting secretary general also expressed gratitude to Kuwait for its move.
Obeidat stated "Jordan is currently facing several financial challenges due to many issue including the influx of large numbers of Syrian refugees and the regional conditions and this deal will support Jordan's reform efforts."
MENAFN2209201800450000ID1097470692
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