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|20 September, 2018

Kuwait Fund inks deal with Jordan to schedule $300mln debts

This agreement aims at scheduling Jordan’s debts that have accumulated as a result of 17 loans

Image used for illustrative purpose. Amman, Jordan. High Angle View Of City Lit Up Against Blue Sky

Image used for illustrative purpose. Amman, Jordan. High Angle View Of City Lit Up Against Blue Sky

Getty Images/ Paul Simmons / EyeEm

Kuwait Fund for Arab Economic Development (Kuwait Fund) has signed an agreement with the Jordanian government on Thursday to schedule debts valued at $300.7 million, Kuwait News Agency (KUNA) said.

This agreement aims at scheduling Jordan’s debts that have accumulated as a result of 17 loans, KUNA added.

The debts will be paid off during a 40-year period with a grace period of 15 years at a 1% interest, Jordan’s planning and international cooperation minister Ziad Obeidat said in a statement, according to KUNA.

Source: Mubasher

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