Home » Japan provides $110 million soft loan to support the energy sector in Jordan

Japan provides $110 million soft loan to support the energy sector in Jordan

by Editor

The Jordanian Ministry of Planning and International Cooperation signed a Memorandum of Understanding (MoU) for a 15 billion JPY ($110 million) soft loan provided by the Japanese government to support the general budget of Jordan. As part of Japan’s pledge at the 2019 London Conference, the country will provide Jordan with soft loans worth $300 million during 2021-2023 as part of its total financing commitment.

As part of the MoU signing ceremony, Zeina Toukan, Minister of Planning and International Cooperation, Jiro Okuyama, Ambassador of Japan to Jordan, and Ando Naoki, Vice President of the Japan International Cooperation Agency (JICA) signed the agreement. This loan will be used to develop the energy sector, including improving the sustainability of the electricity supply and improving sector governance, in order to support the general budget.

Moreover, it will contribute to the development of the national strategy for electric transmission, as well as the requirements for technical and advisory studies related to regional electricity interconnection. A meeting with Japanese officials was held on the sidelines of the signing ceremony, during which they were briefed on key priorities within the executive program of the 2023-2025 vision.

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