Jordan, US sign $1bn loan guarantee deal

Jordan and the United States on Monday signed a one-billion-U.S.-dollar loan guarantee agreement to help the kingdom deal with a large number of Syrian refugees and boost economy, the state-run Petra news agency reported. Jordan's Prime Minister Abdullah Ensour said the deal will help support Jordan's economic reforms and will enable the government to go ahead with the development process. The deal will also support Jordan, whose resources are being strained due to the presence of a large number of Syrian refugees. According to official figures, about 600,000 Syrian refugees are now staying in Jordan. Commenting on the agreement, Jordanian Finance Minister Umayyah Toukan said the deal will enable the kingdom to issue one billion U.S. dollars in Eurobonds in New York in June. The minister said that American banks CitiBank and JPMorgan will manage the issuance of the Eurobonds, and that the deal will enable Jordan to save about 200 million U.S. dollars as the country will borrow at low interest rates. This is the second such loan guarantee agreement between the two countries. Last year they signed another 1.25-billion-dollar deal. Earlier in February U.S. President Barack Obama pledged a one- billion-U.S.-dollar loan for Jordan, a key Arab ally to the United States in the Middle East.