Amman, Jordan – Japan on Thursday signed Memorandums of Understanding with Jordan’s Ministry of Planning and International Cooperation for a 15 billion JPY ($110 million) soft loan to support the general budget.
The loan is part of Japanese government’s pledges to the Jordanian government at the 2019 London Conference to provide total financing in the form of soft loans worth $300 million during 2021-2023.
The MoUs were signed by Minister of Planning and International Cooperation Zeina Toukan, Ambassador of Japan to Jordan, Jiro Okuyama, and Vice President of the Japan International Cooperation Agency (JICA) Ando Naoki.
The loan, which aims to provide support for the general budget, will be channeled to develop the energy sector, including the sustainability of the electricity supply.
It also aims to contribute to developing the national strategy for electric transmission, and the requirements of technical and advisory studies related to regional electricity interconnection in the sector, according to a ministry statement.
Ambassador Okuyama said that the loan would support the Jordanian government’s comprehensive reform efforts which included the vision of economic modernization launched by Jordanian King Abdullah in June entitled “A Better Future.”