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Jordan gets 30 mln euros loan from Germany to finance water projects

Xinhua, September 19, 2015 Adjust font size:

Jordan signed a 30 million euros soft loan agreement with the German Development Bank to finance water projects, the state-run Petra news agency reported.

Jordan's Minister of Planning and International Cooperation Emad Fakhoury said the loan will be used to improve supply of water in Jordan, which is one of the top ten poorest countries in terms of water.

Several waste water treatment projects will be funded by the loan, he said.

The loan will be paid back over a period of 15 years and has a grace period of 5 years. The annual interest loan on the loan is 2 percent, said the minister.

According to figures by the Ministry of Water an Irrigation, Jordan has an annual water deficit of about 500 million cubic meters. The country's annual needs of water reach 1.5 billion cubic feet of water, according to the water ministry.

The minister said the finance will will help improve water supply in light of influx of Syrians refugees into Jordan.

According to the water ministry, demand on water in Jordan rose by about 40 percent in light of influx of Syrians fleeing the violence in their country.

There are 1.5 million Syrian refugees in Jordan, according to offcial figures. Endit