Sharjah 24 – KUNA: Jordan's government signed Sunday an agreement and memorandum of understanding for a EUR 700 million soft loan from the European Union (EU) to cover urgent financial needs by providing direct support to the country's treasury.
Jordanian Minister of Planning and International Cooperation Wissam Rabadi said that the loan was intended to help cover urgent financial needs countrywide to the treasury, given the current situation resulting from the COVID-19 repercussions, according to a statement by the ministry.
Rabadi mentioned that his country obtained funding on very favorable terms, at a competitive interest rate, and a long repayment period of an average of 15 years.
He underlined the importance of the loan in supporting Jordan's set of reforms in priority areas, including public finance, in addition to social policies to protect the poor and simplify investment incentives.
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