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German government provides 100 million USD (86 million EUR) budget support to help overcome fiscal challenges of Jordan

Loan Agreement Signing Ceremony, October 2018, Berlin

Loan Agreement Signing Ceremony, October 2018, Berlin, © KfW/Christian Schaub

01.04.2019 - Artikel

In recognition of the recent progress achieved by the Jordanian Government on its path of economic and fiscal reforms, the German government provided 86 million EUR in budget support on March 29, 2019. This unconditional loan, which was announced by Chancellor Angela Merkel during her visit to Jordan in June 2018, shall provide concessional funding to reduce the cost of Jordanian government debt and further support the reforms that are being implemented under the International Monetary Fund’s Extended Fund Facility. This unconditional loan complements the comprehensive German-Jordanian Development Cooperation that has achieved significant results over the past 60 years. By disbursing this unconditional loan, the German government is living up to its commitments and recognizes the macro-economic and fiscal reform efforts the Jordanian government is undertaking.

In the presence of Vice-Chancellor and Minister of Finance, Olaf Scholz, the loan agreement was signed in October 2018 in Berlin by H.E. Dr. Mary Kawar, Minister of Planning and International Cooperation, and Dr. Joachim Nagel, Member of the Executive Board of KfW, German Development Bank (KfW), together with Stefan Zeeb, Director of the Middle East Department of KfW. On behalf of the German government the unconditional concessional loan was disbursed through KfW on March 29, 2019.

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