Amman: Planning and International Cooperation Minister Zeina Toukan on Wednesday signed a £75 million financing agreement by the German government to support the "Modernization for Growth" program.
According to Jordan News Agency, the agreement was inked on behalf of Germany by Maike Lerch-Simross, Senior Portfolio Manager, KfW Bankengruppe, in the presence of German Ambassador to Jordan, Bertram von Moltke. Toukan expressed Jordan's appreciation for Germany's continued support for the country's development priorities, noting that the funding will improve the regulatory environment for the private sector, positively impacting national economic competitiveness in line with the Economic Modernization Vision and public sector reform roadmap.
The German envoy affirmed his country's commitment to supporting Jordan's reforms, highlighting the Kingdom's ambitious public sector modernization goals. He said Germany will start disbursing the first tranche of the finance, adding that boosting the public sector will help build a more resilient economy.