(MENAFN- Kuwait News Agency (KUNA)) The Jordanian government on Sunday approved three loan agreements form the French Development Agency (AFD) worth USD 267 million for financing vital development projects in the Kingdom.
The agreements, to be signed soon, are part of the efforts Joran is making to enhance support the Kingdom receives in the form of donations or international loans, Minister of Planning and International Cooperation Imad Fakhoury said in a press statement.
The first loan, worth USD 55 million, will be used to support the green corridor project. It will be repaid over 20 years.
The project will help the Kingdom connect renewable power projects to the national electricity network.
As for the second loan, worth USD 43 million, it will be used to finance Wadi Al-Arab project that will help provide 30 million cubic meters of water annually, the minister said.
The loan will be repaid over 20 years, after a five-year grace period.
The third loan, worth USD 169 million, will be used to support the state budget, and it is bound to reforms in the water sector, the minister said.
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