Announcement of Jordan Receiving Thirty Million Dollar Loan from the IBRD on July 11, 1983

FOR IMMEDIATE RELEASE World Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.* Telephone: (202) 477-1234 BANK NEWS RELEASE NO.84/3 Contact: Fawzi Rihane July 11, 1983 (202) 477-365 JORDAN TO BORROW $30 MILLION FROM WORLD BANK FOR TRANSPORT AND WASTE DISPOSAL IN AMMAN The city of Amman, with one third of Jordan's population or 750,000 people, will benefit from a loan of $30 million approved by the International Bank for Reconstruction and Development (IBRD) to improve urban transport conditions and solid waste collection. The ability of Amman Municipality to plan and manage these services and to formulate development plans and investment programs will be strengthened under a $65.6 million project. At present, there are prolonged traffic jams in Amman's central business district and major intersections. Under the Transport and Municipal Development Project, conditions in the central business district will be improved, and four major intersections and other congestion spots will be upgraded to better serve pedestrians and vehicles. In addition, a medium-term highway investment program will be prepared. Eight uncontrolled dumps which currently threaten to pollute scarce water supplies will be replaced with four sanitary landfill sites. Equipment for refuse collection and disposal will be purchased with funds from the IBRD loan. The project will contribute to the institutional development of the Municipality by providing technical assistance, training, and organizational streamlining. The Hashemite Kingdom of Jordan and-the Municipality of Amman will contribute $31.9 million and $3.7 million, respectively, toward project costs. The IBRD loan is for 17 years, including four years of grace, at an annual interest rate tied to Bank borrowings. The loan also carries an annual commitment charge of 0.75% on undisbursed balances and a front-end fee of 0.25% on the amount of the loan. NOTE: Money figures are expressed in U.S. dollars equivalent.