JICA disburses second tranche of loan to Jordan

AMMAN — Upon the achievement of the second batch of prior actions agreed between Jordan and Japan International Cooperation Agency (JICA), the Japanese agency has disbursed 12 billion yen (approx. $97 million) which is the second and last tranche of the Japanese policy loan to Jordan “Fiscal and Public Service Reform Development Policy Loan”.

The second portion of the loan was deposited in the Ministry of Finance’s account at the Central Bank of Jordan on Monday, the agency said in a statement.

The said loan was signed between JICA and the government on May 27, with a total amount of 24 billion yen (approx. $196 million), 1.7 interest rate, 25 years repayment period and a 7-year grace period.

The funds are to be dispensed on fiscal reforms as well as reforms in the water and energy sectors, the statement said. All would contribute to helping Jordan overcome financial challenges resulting from the influx of Syrian refugees into the Kingdom, among others.