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Deal to Reschedule Jordanian Debts to KFAED

Deal to Reschedule Jordanian Debts to KFAED

Friday, 21 September, 2018 - 10:15
Ghanim and Obeidat during the signing ceremony. Asharq Al-Awsat
Amman - Mohamed Al-Daameh

Jordan’s Ministry of Planning and International Cooperation and the Kuwait Fund for Arab Economic Development (KFAED) have signed an agreement to reschedule Jordanian debts.

The deal comes as part of Kuwait’s continued support to Jordan through KFAED to help it confront the economic challenges that the country faces due to instability in the region.

The rescheduled debts are worth 300.7 million dollars.

The acting secretary-general of the Jordanian Ministry of Planning and International Cooperation, Ziad Obeidat, and KFAED’s operations department director Marwan al-Ghanim signed the deal in Amman on Thursday.

In a statement, Obeidat said the agreement aims to schedule Jordanian debts accumulated as a result of 17 loans.

It would be paid off during a period of 40 years with a 15-year grace period and a one-percent interest. 

Obeidat thanked the KFAED, the Kuwaiti government, and people for their generosity, affirming that Jordan welcomed all gestures of solidarity during periods of economic strife.

On his part, Ghanim lauded relations with Jordan, stressing that Kuwait would help Amman achieve economic stability.

Kuwait had deposited 500 million dollars at Jordan’s Central Bank to meet pledges it made at the Makkah summit in June.

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