ZioMal.biz
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ziomal.biz
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- Germany, Jordan agree on debt swapping
- Jordan: Germany and Jordan have agreed on swapping a debt of 10m euros at a discount rate of 50 per cent of the debt's nominal value, Xinhua reported. German Development Bank, on behalf of the Federal Republic of Germany, and Jordan's Ministry of Finance signed the debt swapping agreement in Amman. Under the agreement, Jordan will use 5m euros of its budget to finance local projects in the fields of poverty alleviation, sanitation and education, especially for the German-Jordanian University. After disbursement of this amount, the German government will cancel the 10m euros of Jordan's debt. [AMEInfo.com]
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