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Jordan nets $265mn power and water loan

French-backed funds will help cope with influx of refugees.

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France, Jordan, Locan, Water, News

Jordan has secured a loan of EUR 240mn ($265mn) from France to implement three major water and energy projects.

The bulk of the funds ($167mn) will be a water sector policy loan while $43mn will be allocated to the projected Wadi Al Arab conveyer project in Irbid which is being co-financed by the European Investment Bank (EIB).

In addition, $55mn of the total will go as a loan to finance the green corridor project, the Jordan Times reported.

French Ambassador to the Kingdom, Caroline Dumas announced the loan on Monday at a meeting with the local press on the eve of France's national day.

Dumas said the loan would help Jordan deal with the influx of refugees due to the crisis in neighbouring Syrian.

The Ambassador said that another $80mn loan is being disbursed for different projects through the French Development Agency.

The loan, approved in 2014, is allocated for the Yarmouk Water Company for the extension of a water conveyer from Amman to Zarqa, as part of the Disi Water Conveyance Project and to support infrastructure projects in the Mafraq, Irbid, Ajloun and Jerash municipalities.

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