Jordan, Kfw Sign 97-Million-Euro Loan Agreement to Finance Water ProjectsSource: www.export-egypt.com 12/18/2018, Location: Middle East |
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Jordan signed two concessional loan agreements with the German Development Bank (KfW), valuing 97 million euros, to finance two vital projects in the water sector.
Minister of Planning and International Cooperation Mary Kawar and Director of the Middle East Department at the KFW Stephan Zeeb signed the agreement, according to a statement sent by the Planning Ministry Kawar voiced the Jordanian government and people’s appreciation for Germany’s continuous support to Jordan in different fields including water, education and sanitation. The agreement includes financing for the fourth phase of an energy efficiency project in the water sector valued at 60 million euros. The project aims to save energy and reduce its cost to Jordanian water companies, the statement said. It also includes 37 million euros for the fourth phase of a second project; the 2018 Water Resources Management Programme. The 2018 programme aims at restructuring, expanding and improving the performance of water infrastructure in Irbid and Ramtha to provide more water to Syrian refugee host communities and reduce loss and energy consumption in the two municipalities. The two projects will take about five years to complete, and the statement added that the loan has a repayment period of 15 years, including a five-year grace period. Kawar said that the Jordanian and German officials are working to design support and objectives in line with Jordan’s national priorities, specifically service projects that have a direct impact on improving the level of services provided to citizens and Syrian refugee host communities. She noted that Germany is one of Jordan's most important partners in the development and reform process, commending Germany’s role in helping Jordan face challenges stemming from the Syrian crisis. |
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