Talks with World Bank over $250m loan concluded

AMMAN — The government on Sunday concluded official discussions with the World Bank Group (WBG) regarding a $250 million loan to support the budget, according to the Planning and International Cooperation Ministry.

Planning and International Cooperation Minister Imad Fakhoury on Monday met with a WBG delegation, headed by the group's Executive Director Merza Hassan, with talks focusing on the second development policy loan that aims at supporting the water and energy sectors.

The loan deal is expected to be presented to WBG's council of executive directors for endorsement in December, according to a ministry statement, which anticipated the full amount to be transferred into the Treasury before yearend.

At the meeting with Hassan, Fakhoury reviewed the latest political and economic developments in Jordan in light of the repercussions of the Syrian crisis and the mounting pressure on the Kingdom as a result.

Jordan has reached the "saturation level" in terms of its ability to bear the burdens of hosting Syrian refugees on behalf of the world, Fakhoury said, adding that only adequate support from the international community can enable the Kingdom to continue providing services to refugees.

He also highlighted the importance of increasing grants aimed at supporting the budget and the Jordan Response Plan, in addition to soft loans to support important development projects. 

For his part, Hassan underlined the world’s respect for and appreciation of the Jordanian role in hosting refugees and shouldering this burden on behalf of the international community, calling on international donors to increase support for Jordan, the statement added.