Jordan Seeks $1 Billion World Bank Loan to Cut Debt Burden
- Prime minister speaks at World Economic Forum Dead Sea event
- Oil from Iraq expected ‘very soon,’ Razzaz says in interview
A market trade at a local fruit and vegetable market in Amman, Jordan.
Photographer: Annie Sakkab/Bloomberg
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Jordan is talking to the World Bank about a $1 billion soft loan as it seeks to cut the cost of its debt repayments and revive an economy strained by more than a million Syrian refugees.
The government’s “moving on several fronts to reduce the high debt burden by considering concessional loans and focusing on triggering economic growth,” Prime Minister Omar Razzaz said at a World Economic Forum meeting on Jordan’s Dead Sea shores. It’s seeking a 30-year facility with the World Bank and an interest rate of 4 percent, he said.