German Bank to Grant Jordan €97 Million

Published December 18th, 2018 - 08:51 GMT
The agreement covers the funding of the fourth phase of the €60 million renewable energy and energy efficiency program for lower energy consumption in the water sector. (Shutterstock)
The agreement covers the funding of the fourth phase of the €60 million renewable energy and energy efficiency program for lower energy consumption in the water sector. (Shutterstock)

The Government on Monday signed two concessional agreements worth €97million with the German Development Bank (KfW), to finance two major water projects.

Minister of Planning and International Cooperation Mary Kawar, Minister of Water and Irrigation Raed Abu Saud and KfW Director of the Middle East Department Stefan Zeeb inked the protocols.

Kawar hailed Germany for its continued support of Jordan over the years, and its aid for key sectors, including water and sanitation and education, among others, to help the Kingdom address the repercussions of the Syrian refugee crisis.

The agreement covers the funding of the fourth phase of the €60 million renewable energy and energy efficiency program for lower energy consumption in the water sector. 

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The loan will fund the 2018 management of the water resources program worth €37 million to restructure, expand and enhance the performance of water networks in northern Irbid and Ramtha regions.

Both ventures will be implemented over a five-year period, with highly concessional financing conditions and 15-year reimbursement period with a five-year grace period.

Zeeb said that the partnership with Jordan is not only exemplary and constructive, but the best among countries that partnered with Germany. He also lauded Jordan's government for the success of the talks and their outcome.


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