The long-term loan, almost interest free by World Bank of $100 million loan to Jordan for job creation, comes after Lebanon was also awarded $100 million to ensure universal school enrolment for Lebanese and Syrian refugee children by 2017.
- In an attempt by the international community to improve conditions for refugees in overburdened regional host Jordan will get a cheap $100 million loan to help create 100,000 jobs for Syrian refugees and its own citizens.
- More than 4.8 million Syrians have fled their country since the start of the Syria conflict in 2011. Jordan hosts about 640,000 registered Syrian refugees and Lebanon more than 1 million.
- Jordan has allotted Special Economic Zones(SEZs)where it hopes improved trade arrangements with Europe will lead to greater investment and eventually more jobs.
World Bank approved $250 million loan to Support Electricity Distribution Sector Reforms in Rajasthan
The World Bank Board granted Long term Loanof $250 million Development Policy Loan for Rajasthan.
- This will help the Rajasthan in improving the performance of its electricity distribution sector under the State’s 24×7 Power for All programs associated with state electricity policy.
- The loan, from the International Bank for Reconstruction and Development (IBRD), has a 5-year grace period, and a maturity of 18 years.
Support Loan for Electricity Distribution:
- Financial restructuring and recovery in the sector through transferring considerable amount of the debt of the DISCOMs to the state.
- Take along in more discipline in DISCOMs submissions to regulatory commission towards revenue requirements and initiatives towards reducing the costs of energy procurement.
- World Bank GroupPresident: Jim Yong Kim
- Headquarters:Washington, D.C. United States