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  • 15-01-19

    Jordan in talks for WB USD1.2b soft loan

    (MENAFN) Jordan was reported to be currently in talks with the World Bank as it seeks USD1.2 billion in soft loans.

    According to Petra news agency, the soft loan is being sought by Jordan for its efforts in fiscal and economic reforms at low interest rate.

    Through the loan, Jordan will be making payments of few major debts along with supporting its efforts to ease the public debt to the gross domestic product (GDP), assured Jordanian Minister of Finance Ezzeddine Kanakrieh.

    There, the Jordanian finance minister added, the loan will definitely not be injecting any more burden on the Kingdom's public debt.

    Kanakrieh noted that the loan will be having a 30-year period for repayment with a 5-year grace period, adding: "the long payback period will help the treasury in managing the public debt and paying the debts with higher interest rates."

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