Jordan and the US signed on Wednesday a $20 million soft loan agreement to purchase 130,000 metric tons of US wheat. The agreement was signed by Jordan's Minister of Finance, Mohammad Abu Hammour and US Charge d' Affairs David Hale.
According to the agreement, the soft lean will be extended with a concessional interest rate of 1% over 30 years with a 5-year grace period during which no payments are required.
According to Petra, Abu Hammour, said that the loan will enable the Jordanian government to buy American wheat and sell it to citizens to keep the current prices of bread. (menareport.com)
© 2004 Mena Report (www.menareport.com)
