Jordan receives USD195m financing credits

09 Nov 2015

(MENAFN) Five loan and grant agreements were signed up between Jordan and the European Union at a total of USD195.5 to finance several development projects in the Kingdom.

Two loan agreements at a total of USD126 million are for financing the nation’s energy and water sectors and the three grants at USD69.5 million are allocated to back up occupational education.

In more detail, the first of the two at USD 54 million would be used to finance Wadi Al-Arab Water System II to advance drinking water availability for the rising population in Northern Governorates.

The second valuing USD72 million is for the National Electric Power Company (NEPCO) Green Corridor project, which is a vital part of Jordan’s renewable energy development program.

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