France loans Jordan €150 million

France loans Jordan €150 million
Photo: Charlie Phillips
The French Development Agency inked a deal with the Jordanian government on Monday to provide the kingdom with a soft loan of €150 million ($193 million) to support its battered budget.

Amman, which is trying hard to offset a $3 billion deficit in this year's $9.6 billion budget, is expected to receive €100 million next month and the remaining next year, Jordan's planning ministry said.

The €150 million euros are part of the 2011-2013 loan agreement between the two countries according to which France will offer Jordan a total of €600 million in loan.

The ministry said the French agency will also grant Amman €1.6 million to support water projects in Jordan, one of the world's 10 driest countries, with 92% of its territory desert.

The International Monetary Fund in August issued a $2 billion loan for Jordan to steady its economy.

Separately, Amman has appealed for $700 million in global aid to cope with hosting more than 200,000 Syrian refugees who have fled the violence in their country.

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