Jordan receives $725-mln payment of World Bank loan


11-06-2019 04:40 PM

Ammon News - AMMONNEWS - The Central Bank of Jordan (CBJ) received a $725-million payment of a $1.45-billion World Bank loan, said Mohammad Ississ, Minister of Planning and International Cooperation and Minister of State for Economic Affairs.

During a press conference, Ississ said the payment will be used to repay the $1-billion worth of Eurobonds issuance due this month.

Sources said the planning ministry will cover the remaining amount through a dollar-denominated local bonds issuance.

The World Bank had agreed to grant the Kingdom a $1.45 billion loan, the largest by the bank to Jordan, at a 4-percent interest rate and a 4-year grace period under a maturity period of 34 years.

In a statement, the ministry said the aim of this loan is repay other loans, and it will save Jordan around $50 million of annual debt service if the government had resorted to Eurobonds, with a cost of 8-9 percent.




  • no comments

Notice
All comments are reviewed and posted only if approved.
Ammon News reserves the right to delete any comment at any time, and for any reason, and will not publish any comment containing offense or deviating from the subject at hand, or to include the names of any personalities or to stir up sectarian, sectarian or racial strife, hoping to adhere to a high level of the comments as they express The extent of the progress and culture of Ammon News' visitors, noting that the comments are expressed only by the owners.
name : *
email
show email
comment : *
Verification code : Refresh
write code :