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Jordan to receive USD192.79m loan from France

25 Sep 2012

(MENAFN) Jordan’s Ministry of Planning and International Cooperation announced that the country will receive a USD192.79 million loan from France to fund the state budget, reported Jordan Times.

The ministry added that the low-interest, long-term loan will be distributed in two payments.

The amount will be used to ease financial pressures on the budget, which is expected to post a USD1.68 billion shortfall by the end of 2012.

Of the total loan, USD129.34 million will be received in October, and the remaining will be received in 2013’s first half.

It is worth noting that France also inked another 3 separate agreements with Jordan worth USD2.06 million as grants to develop the water sector and small- and medium-sized projects in the country.

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