(MENAFN- Jordan News Agency) Amman April 18 (Petra) -- Minister of Planning and International Cooperation Imad Fakhoury has briefed senior World Bank officials on the latest economic challenges facing Jordan in light of the Syrian and regional crises and their repercussions on the Kingdom's economy.
The ministry said in a statement on Monday that Fakhoury during International Monetary Fund (IMF) and World Bank Group (WBG) Spring Meetings in Washington reviewed the increasing pressure on Jordan as a result of the regional crises and their impact on the rising public debt.
The statement said that the minister also stressed the importance of mobilizing funds to enable the government continue hosting Syrian refugees and providing them with humanitarian services.
Fakhoury also discussed with the WBG senior management the current and future cooperation as well as formulating the 2017-2022 framework of the Country Partnership to support Jordan's developmental programs.
The statement further pointed to the Second Programmatic Development Policy Loan that Jordan works on with the WBG to repair the water and energy sectors worth $250 million in soft loan for budget support.
It also indicated the Results-Oriented Program worth $300 million in soft loan rather than the short-term and high cost of commercial borrowing.
Moreover the statement added that a total of $100 million will be provided by the U.S Agency for International Development (USAID) for the Results-Oriented Program based on the results announced by the WBG in London with very concessional interest with repayment periods of up to forty years.
Allocating this sum of money to Jordan is considered historic as the Kingdom is classified as a country with high average income the statement stated.
The statement also highlighted meetings held by Fakhoury with the director of the USAID as well as the US Congress adding that they focused on regional developments and challenges facing the Kingdom as a result of the Syrian refugee crisis. The meetings also dealt with progress achieved by Jordan regarding the economic and political reforms.
The minister also took part in meetings of the IMF's president with officials from Middle Eastern countries and with officials from JICA and the European Investment Bank that focused on cooperation with JICA and the EIB. More..
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