Minister of Planning and International Cooperation Zeina Toukan and Senior Vice President of the Japan International Cooperation Agency (JICA) Shuhei Hara discussed, on Sunday, priorities for future developmental and technical assistance in alignment with the Economic Modernisation Vision.
According to a statement, Touqan and Hara signed a $100 million loan the Japanese government is providing through JICA to support Jordan's general budget, focusing on the social sector and human development policy. The loan is under favourable terms that help reduce public debt costs.
Toukan signed the loan memorandum and the resulting concessional loan agreement on behalf of the Jordanian government, and Japanese Ambassador Okuyama Jiro signed on behalf of Japan. Hara, JICA's also signed the loan agreement.
The loan aims to support human development policies and improve the management and efficiency of the social sector, particularly in health, education and social protection. It supports the comprehensive plan for the Aqaba Special Economic Zone Authority. The funding is parallel to the $300 million Human Development Policy Loan provided by the World Bank, which was signed last July.
Toukan praised Japan for supporting Jordan's development priorities. She highlighted the "deep and historical" ties with Japan, noting that 2024 marks 70 years of diplomatic relations with Tokyo.
Hara said the loan recognises Jordan's reforms, including the Economic Modernisation Vision, focusing on health, education, urban planning and social protection.
He noted that the loan meets the financing needs of the 2024 fiscal year budget and praised the historical relations between Jordan and Japan. He affirmed the continuation of financial and technical support to Jordan to assist in its developmental and reform efforts.
Since 1999, Jordan has received nearly $2 billion in financial and technical assistance through JICA, focusing on priority sectors such as water, energy, public works, tourism and industrial support.