Amman, 5 September 2023 (TDI): In a significant move to bolster economic resilience and social protection, Jordan and Japan have formalized a loan agreement worth $100 million.
This collaboration aims to support Jordan’s general budget and mitigate the nation’s economic and developmental challenges.
The loan, facilitated by the Japan International Cooperation Agency (JICA), is a segment of a larger $300-million financial aid that Japan pledged in response to the 2019 London Initiative, which sought international support for Jordan.
The signing ceremony witnessed the participation of key figures, including Jordan’s Minister of Planning and International Cooperation, Nasser Shraideh, and Japan’s Ambassador to Jordan, Shimazaki Kaoru.
JICA’s primary representative in Jordan, Chie Miyahara, was also present. This financial collaboration is not the first of its kind.
Since 2014, Japan has extended direct support to Jordan’s general budget on multiple occasions, with an additional loan in 2012 earmarked for capital projects.
A notable feature of the current loan is its concessional terms, designed to provide Jordan with emergency support as it grapples with the repercussions of the COVID-19 pandemic.
Minister Shraideh expressed gratitude for the sustained foreign assistance from global partners like Japan.
He emphasized that such support underscores the international community’s recognition of the challenges Jordan faces, including the Syrian crisis aftermath and the ongoing pandemic.
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Japan’s contributions to Jordan’s development endeavors have been consistent. In 2021, Japan granted $27.4 million to rejuvenate the Zay water station, a critical source of drinking water for Amman and Balqa.
Ambassador Shimazaki Kaoru conveyed optimism that the loan would bolster the Jordanian government’s developmental initiatives and expedite the nation’s economic recovery from the pandemic’s impact.
Both nations remain committed to fostering a robust partnership, addressing mutual interests, and working towards a sustainable and prosperous future.
