Korean bank to provide $30m loan for wastewater treatment project

AMMAN –– The Korea Eximbank (Export-Import Bank of Korea) on Tuesday announced  that it will provide a $30 million Economic Development Cooperation Fund (EDCF) loan for the Naur Wastewater Treatment Project.

The project entails building a wastewater treatment facility in Naur, located south of the capital, according to a statement released by the Ministry of Planning and International Cooperation.

Amid the increasing demand on wastewater treatment with the influx of refugees from neighbouring countries, the Korea Eximbank decided to provide $30 million as a supplementary loan.

Once it is completed, the plant is expected to improve sanitary conditions and agricultural productivity of around 100,000 area residents, the statement said.

It will also help technically advanced Korean companies to enter the Middle East market in the wastewater field, according to the Korea Eximbank.

“I hope this project will become a model of infrastructure construction in the area of water resources in Jordan,” the ministry statement quoted Korea Eximbank Chairman and President Lee Duk-hoon as saying.

Minister of Planning and International Cooperation Imad Fakhoury and the Eximbank chairman signed the agreement in Seoul. 

Fakhoury went on an official visit to Japan and Korea on December 8 to discuss further economic cooperation with officials from both countries.