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Jordan signs 2 loan deals with French Development Agency

Xinhua, December 1, 2016 Adjust font size:

Jordan on Wednesday signed two soft loan deals totaling 132 million euros (about 140 million U.S. dollars) with the French Development Agency to support municipalities and water projects in the country.

A loan of 100 million euros is aimed at supporting the country's municipalities, Minister of Planning and International Cooperation Emad Fakhoury said at the signing ceremony.

Half of the loan will be transferred to Jordan before the end of this year, while the remaining part will be sent in 2017, the minister said, adding that the interest rate is around 1.5 percent.

Another loan of 32 million euros will finance projects to improve access to water and enhance performance in water distribution and sewage services in Irbid governorate.

The overall cost of a water project is 144 million euros and Jordan will soon sign more deals to complete the finance needed for the project.

The project will help improve water supply to communities affected by the influx of Syrian refugees through conducting maintenance for water networks and enhancing water supply.

Jordan, which is among the poorest countries in water, is home to some 1.4 million Syrian refugees. Endit